Natural Gas Futures: Scope for extra gains
|Open interest in natural gas futures markets rose for the third session in a row on Monday, this time by more than 6K contracts considering flash data from CME Group. On the other hand, volume retreated for the second consecutive session, now by around 96.4K contracts.
Natural gas looks to tops around $4.20
Natural gas prices finally managed to reverse the recent weakness and closed with decent gains on Monday. The move was accompanied by rising open interest, which is supportive of further recovery in the very near term. That said, the next level of relevance emerges at the YTD peaks around $4.20 per MMBtu.
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.