Natural Gas Price: Positive stance remains unchanged
|Advanced figures for Natural Gas futures markets from CME Group noted open interest extended the uptrend on Thursday, this time rising by around 5.6K contracts. On the other hand, volume reversed the previous build and shrunk by around 157.6K contracts.
Natural Gas Prices Forecast
The recovery in prices of Natural Gas extended the upside momentum on Thursday, although a surpass of the $1.90 mark still remains elusive for the time being. Against this, rising open interest opens the door to the continuation of the rebound, at least in the short-term horizon.
In fact, Natural Gas met buying interest in the $1.77 region per MMBtu on Monday. Further upside is therefore expected to meet interim hurdle at Wednesday’s top near $1.90 ahead of the key $2.00 mark. On the downside, the $1.680 region could re-emerge on the horizon in case sellers regain the upper hand ahead of the 2020 low at $1.574 (April 2).
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.