Natural Gas Futures: Further rebound appears on the cards

Pablo Piovano FXStreet

CME Group’s advanced readings for Natural Gas futures markets noted open interest shrunk by around 19.4K contracts on Monday, reversing three builds in a row. Volume, instead, extended the choppy activity and rose by around 218.2K contracts.

Natural Gas met decent support near $1,80/MMBtu

Prices of the Natural Gas dropped to new 2-month lows in the $1,80 per MMBtu at the beginning of the week. The move was amidst diminishing open interest, leaving the scenario of further decline unfavoured at least in the veery 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.

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