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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.