Natural Gas Futures: Extra pullbacks likely

Pablo Piovano FXStreet

In light of flash prints for Natural Gas futures markets from CME Group, open interest rose by around 4.7K contracts on Thursday following three consecutive daily pullbacks. Volume, instead, shrunk for the third consecutive session, this time by around 33.8K contracts.

Natural Gas could test the 200-day SMA

Following recent tops near the $2.30 level per MMBtu on Thursday, Natural Gas prices sparked a correction lower which looks bolstered by rising open interest. Against this, it will not be surprising to see prices extending the leg lower to the 200-day SMA, today at $2.11.

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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