Natural Gas Futures: No changes to the range bound mood
|In light of advanced prints from CME Group for natural gas futures markets, open interest reversed two consecutive daily pullbacks and rose slightly by just 186 contracts on Wednesday. On the other hand, volume extended the downtrend for the third session in a row, this time by around 14.1K contracts.
Natural Gas remains supported around $2.00
Prices of the natural gas charted an inconclusive session on Wednesday. The daily price action was on the back of a small uptick in open interest and declining volume, exposing further consolidation for the time being. In the meantime, bouts of weakness appear so far contained by the $2.00 region per MMBtu.
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