Natural Gas Futures: Probable gains near term
|In light of advanced figures from CME Group for natural gas futures markets, open interest increased for the third session in a row on Wednesday, this time by around 9.4K contracts. Volume, instead, resumed the downtrend and shrank by around 59.6K contracts.
Natural Gas still targets the $4.00 yardstick
Natural gas extended the rebound from December lows in the sub-$3.60 area on Wednesday. The daily uptick was accompanied by rising open interest, which is expected to support the continuation of the recovery with the immediate target at the key barrier at the $4.00 mark per MMBtu.
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