Natural Gas Futures: Extra decline in store near term

Pablo Piovano FXStreet

Open interest in natural gas futures markets reversed a multi-week downtrend and rose by around 1.3K contracts on Wednesday, according to advanced prints from CME Group. On the flip side, volume dropped for the second straight session, this time by just 515 contracts.

Natural Gas cold revisit $6.00

Natural gas prices climbed to the proximity of the $7.00 mark on Wednesday, although it ended up reversing that move and closing the day with decent losses. The move was accompanied by rising open interest, which opens the door to the resumption of the downside with the immediate target at recent lows in the $6.00 mark 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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