Natural Gas Futures: Further rebound looks likely
|Advanced prints from CME Group for natural gas futures markets saw open interest resume the uptrend and rise by around 4.5k contracts on Friday. Volume, instead, dropped for the third session in a row, this time by around 18.4K contracts.
Natural Gas: The 55-day SMA holds the downside
Friday’s decent gains in prices of natural gas was against the backdrop of rising open interest, which is indicative that extra rebound could be on the cards in the very near term. Further downside, in the meantime, is expected to meet contention around the 55-day SMA, today at $7.63 per MMBtu.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.