Natural Gas Futures: Looks neutral/bearish near-term
|Advanced readings from CME Group for Natural Gas futures markets noted open interest rose by around 2.7K contracts on Tuesday, resuming the uptrend. Volume, on the other hand, prolonged the choppiness and shrunk by around 81.5K contracts.
Natural Gas Prices: Recovery stalled ahead of $1,80/MMBtu
The recovery in prices of Natural Gas runout of team in the boundaries of the key $1,80 level on Tuesday. Rising open interest and declining volume give conflicting signals and open the door to a potential consolidative phase in the very near-term.
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