Natural Gas Futures: Scope for extra losses
|CME Group’s flash data for natural gas futures markets noted traders increased their open interest positions for the second session in a row on Tuesday, this time by around 1.6K contracts. in the same direction, volume added to Monday’s uptick and rose by around 56.7K contracts.
Natural Gas risks another test of the 2023 low
Prices of natural gas remained on the defensive in the first half of the week. Tuesday’s decline came on the back of rising open interest and volume, which suggests that further retracements remain well on the table in the very near term. Against that, the next support of note aligns at the 2023 low near $1.97 per MMBtu (February 22).
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.