Natural Gas Futures: Further retracement not ruled out

Pablo Piovano FXStreet

Considering advanced readings for natural gas futures markets from CME Group, open interest rose a tad by 375 contracts on Wednesday. On the other hand, volume shrank by around 21.7K contracts after two daily pullbacks in a row.

Natural gas met support near $3.80

Prices of natural gas extended the drop on Wednesday amidst a small uptick in open interest, leaving the door open to extra losses in the very near term. That said, recent lows around the $3.80 mark per MMBtu should hold the downside 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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