Natural Gas Futures: Correction lower in the offing?

Pablo Piovano FXStreet

CME Group’s advanced prints for crude oil futures markets noted open interest extended the downtrend for yet another session on Monday, this time by around 2.8K contracts. In the same line, volume dropped for the third session in a row, now by nearly 60.3K contracts.

Natural Gas expected to recede from tops

Natural Gas prices clinched fresh tops near $3.10 at the beginning of the week amidst shrinking open interest and volume. That said, short covering still appears fuelling the upside in the commodity and therefore a potential correction lower remains in the near-term horizon.

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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