Natural Gas Futures: Further pullbacks on the cards

Pablo Piovano FXStreet

CME Group’s flash data for natural gas futures markets noted open interest increased for the second session in a row on Tuesday, this time by around 16.3K contracts. In the same line, volume remained choppy and went up by around 69.5K contracts.

Natural Gas faces a potential test of $2.00

Tuesday’s decline in prices of the natural gas was on the back of increasing open interest and volume and is indicative of further losses in the very near term. Against that, a probable revisit to the monthly low around the $2.00 mark per MMBtu (May 5) should not be ruled out 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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