Natural Gas Futures: Very near-term outlook looks inconclusive
|Open interest in Natural Gas futures markets went up by nearly 6K contracts on Monday, reversing three consecutive daily pullbacks according to preliminary prints from CME Group. On the other hand, volume shrunk for the third straight session, this time by around 108.6K contracts.
Natural Gas: Further decline is not ruled out
Prices of Natural Gas charted an inconclusive session at the beginning of the week amidst rising open interest. That said, a deeper pullback remains on the cards with the initial target at the 200-day SMA, today at $1.935 per MMBtu.
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