Natural Gas Futures: Further decline loses traction

Pablo Piovano FXStreet

Open interest in natural gas futures markets dropped by nearly 22K contracts on Thursday, resuming the downtrend after the previous daily build considering advanced prints from CME Group. In the same direction, volume added to the erratic activity as of late and shrank by around 203.5K contracts.

Natural Gas returns from overbought levels

Prices of natural gas extended the correction from 2021 highs above the $5.60 mark amidst shrinking open interest and volume on Thursday. The commodity stays under pressure although a sustainable pullback does not seem likely for the time being.

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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