Natural Gas Futures: Further upside not favoured

Pablo Piovano FXStreet

Advanced figures from CME Group for Natural Gas futures markets showed open interest dropped by around 7.7K contracts after two consecutive daily builds on Wednesday. In the same line, volume shrunk by around 27.4K contracts following four builds in a row.

Natural Gas now looks to $2.40/MMBtu

Natural Gas prices posted decent gains on Wednesday amidst diminishing open interest and volume. That said, further gains now look unlikely, while the door now remains open for a potential move lower. Against this, the $2.40 mark per MMBtu still emerges as the next support of relevance.

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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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