Natural Gas Futures: Extra decline appears on the cards

Pablo Piovano FXStreet

Open interest in natural gas futures markets extended the choppy activity and went up by around 3.5K contracts on Friday, in light of advanced readings from CME Group. On the other hand, volume dropped for the second session in a row, this time by almost 22K contracts.

Natural Gas stays supported around $2.40

Friday’s downtick in prices of natural gas was accompanied by rising open interest, hinting at the idea that the continuation of the downtrend remains in the pipeline for the time being. That said, the next interim support emerges at the 2021 lows near $2.40 per MMBtu (January 21).

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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