Natural Gas Futures: Dwindling bets for further gains

Pablo Piovano FXStreet

CME Group’s flash data for natural gas futures markets noted traders trimmed their open interest positions by nearly 2K contracts on Monday after four consecutive daily builds. Volume followed suit and went down by around 75.4K contracts, partially reversing the previous daily advance.

Natural Gas remains stuck within the range bound theme

Prices of the natural gas rose for the second session in a row on Monday. The improvement in the price action came amidst diminishing open interest and volume and is indicative that extra gains lack conviction for the time being. So far, the commodity’s upside remains capped by the $2.50 region 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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