Natural Gas: A near-term rebound looks probable

Pablo Piovano FXStreet

CME Group’s flash data for natural gas futures markets noted traders reduced their open interest positions by just 830 contracts on Friday, adding to the previous daily drop. In the same line, volume reversed four consecutive daily builds and went down by around 107.3K contracts.

Natural Gas: Imminent barrier appears at the 100-day SMA

Friday’s pullback in prices of natural gas came on the back of declining open interest and volume, allowing for some bounce in the short-term horizon. On this, the immediate up-barrier is seen at the $2.40 region per MMBtu, where the 100-day SMA and the monthly high converge.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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