Natural Gas Futures: Further retracement not ruled out
|Considering advanced readings for natural gas futures markets from CME Group, open interest rose a tad by 375 contracts on Wednesday. On the other hand, volume shrank by around 21.7K contracts after two daily pullbacks in a row.
Natural gas met support near $3.80
Prices of natural gas extended the drop on Wednesday amidst a small uptick in open interest, leaving the door open to extra losses in the very near term. That said, recent lows around the $3.80 mark per MMBtu should hold the downside for the time being.
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