Natural Gas Futures: Correction likely in the near term

Pablo Piovano FXStreet

CME Group’s flash data for natural gas futures markets noted traders trimmed their open interest positions for the second session in a row on Friday, this time by around 1.1K contracts. Volume followed suit and went down by around 139.3K contracts, resuming the downtrend following the previous daily build.

Natural Gas: Increased volatility could reach $4.00

Prices of natural gas jumped past $3.60 for the first time since mid-January on Friday. The marked uptick, however, was on the back of dwindling open interest and volume and exposes some corrective move in the very near term. In the meantime, a retest of the $4.00 region should not be ruled out amidst the current backdrop of high volatility.

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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