Natural Gas Futures: Extra upside not ruled out

Pablo Piovano FXStreet

Traders reduced their open interest positions by nearly 4.2K contracts on Monday, resuming the downtrend after Friday’s build in light of advanced prints from CME Group. On the opposite direction, volume rose by around 181.2K contracts.

Natural Gas keeps targeting the $3.00 mark

Natural Gas prices briefly tested the $3.00 area per MMBtu at the beginning of the week, just to recede afterwards. The positive performance was in tandem with diminishing open interest, adding to the view that further gains look somewhat limited in the very near-term.

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.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.