Natural Gas Futures: Neutral/bullish near-term
|Advanced readings from CME Group for natural gas futures markets showed open interest extended the choppy activity and rose by more than 6K contracts at the beginning of the week. Volume, instead, dropped markedly by around 218.3K contracts after two consecutive daily builds.
Natural Gas stays supported around $2.70/MMBtu
Natural gas prices appear to have met decent support around the $2.70 per MMBtu for the time being. Monday’s uptick was amidst rising open interest, indicative that further upside could lie ahead. That said, the 20-day SMA in the $2.90 region per MMBtu emerges as the next interim hurdle in the short-term.
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.