Natural Gas Futures: Door open to further gains

Pablo Piovano FXStreet

In light of advanced prints from CME Group for natural gas futures markets, open interest extended the uptrend and rose by around 11.2K contracts on Friday. Volume, in the meantime, increased by around 170.4K contracts, resuming the uptrend following the previous daily pullback.

Natural Gas: Immediate up-barrier comes at $2.50

Prices of the natural gas reversed part of the previous weakness on Friday. The recovery came amidst increasing open interest and volume and suggests that further rebound could be in store for the commodity in the very near term. Against that, the next resistance level of note comes at the April top at $2.529 per MMBtu.

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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