Natural Gas Futures: Bullish momentum remains in store

Pablo Piovano FXStreet

Considering advanced prints from CME Group for natural gas futures markets, open interest extended the uptrend and rose by around 18.2K contracts on Thursday. In the same line, volume went up for the fourth session in a row, this time by around 164.1K contracts.

Natural Gas: Next on the upside comes $4.00

Prices of natural gas seem to have broken above the critical resistance zone at $3.00 per MMBtu with certain conviction on Thursday. The move was accompanied by increasing open interest and volume and favours the continuation of the rebound in the very near term. That said, the $4.00 mark per MMBtu is expected to come next for bulls.

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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