Natural Gas Futures: Further rebound not ruled out

Pablo Piovano FXStreet

Considering advanced prints from CME Group for natural gas futures markets, open interest added to the previous build and went up by more than 1K contracts on Thursday. On the other hand, volume dropped for the third consecutive session, now by around 109.7K contracts.

Natural Gas: Next on the upside comes $7.20

Thursday’s uptick in prices of natural gas was accompanied by another build in open interest, which allows for the continuation of the recent bounce. The sharp drop in volume, however, could also spark a knee-jerk in the very near term. The next up barrier of note, in the meantime, emerges at the November high at $7.22 per MMBtu (November 7).

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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