Natural Gas Futures: Upside could lose momentum
|CME Group’s advanced figures for Natural Gas futures markets noted open interest retreated by almost 3K contracts on Monday, extending the choppy activity seen as of late. Volume, instead, reversed two consecutive daily pullbacks and rose by nearly 602K contracts.
Natural Gas now targets the 2020 highs
Prices of Natural Gas rose more than 15% at the beginning of the week amidst diminishing open interest, leaving the upside exposed to some correction in the very near-term. Looking at the broader picture, Natural Gas could attempt a move to test YTD highs around $2,26 (May 5) in the short-term horizon.
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.