Natural Gas Futures: Further decline on the cards
|In light of advanced prints for natural gas futures markets from CME Group, open interest rose by around 3.1K contracts on Monday following two pullbacks in a row. In the same line, volume reversed three daily drops and went up by nearly 3.7K contracts.
Natural Gas capped around $3.30/MMBtu
Prices of natural gas kept losing ground Monday. The downtick was amidst rising open interest and volume, allowing for the continuation of the leg lower in the very near-term at least. Against this, there is initial support in the $2.70 region per MMBtu.
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