Natural Gas Futures: Rebound in the offing?
|Flash data from CME Group for natural gas futures markets noted open interest reversed five consecutive daily builds and went down by around 7.6K contracts on Thursday. In the same line, volume shrunk for the second straight session, now by more than 62K contracts.
Natural Gas targets $3.15 and abov
Prices of natural gas retreated for the second session in a row on Thursday amidst diminishing open interest and volume, removing strength from the downside and at the same time allowing for a rebound in the very near-term. Against this, recent tops around the $3.15 per MMBtu emerge as the next resistance for the time being.
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