Natural Gas Futures: Room for a bounce near term
|In light of advanced prints from CME Group for natural gas futures markets, open interest decreased for the fourth consecutive session on Tuesday, this time by more than 17K contracts. Volume, instead, reversed three daily pullbacks in a row and gained around 74.1K contracts.
Natural Gas: Top in place?
The corrective move in natural gas seems to have met support in the vicinity of $4.70 on Tuesday. The downtick was accompanied by diminishing open interest, removing some strength from the downtrend and allowing for a near-term rebound. So far, prices of the commodity seem to have charted an interim top past the $5.60 mark per MMBtu earlier in the month.
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