Natural Gas Futures: Further upside not favoured

Pablo Piovano FXStreet

Considering advanced prints for Natural Gas futures markets from CME Group, open interest shrunk for the second consecutive day on Tuesday, now by around 4.1K contracts. Volume, in the same line, extended the downtrend for yet another session, this time by around 31.5K contracts.

Natural Gas faces strong hurdle around the $3.10 region

Tuesday’s uptick in Natural Gas was amidst another drop in open interest and volume, leaving further gains unfavoured in the very near-term. In the meantime, the commodity faces strong resistance in recent tops around $3.10 per MMBtu.

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.

EUR/USD keeps the offered stance just above 1.1700

EUR/USD is coming under heavy selling pressure in what has been a rather grim start to the new trading week, with the pair now trading close to the 1.1700 support area as the US Dollar stages a solid rebound. The prevailing flight to safety mood continues to favour the Greenback, as investors react to the escalating conflict in the Middle East and trim risk exposure across the board.

GBP/USD hits new yearly lows near 1.3300

GBP/USD adds to the recent bearish tone, approaching to the key 1.3300 support to reach fresh YTD troughs against the backdrop of the robust performance of the US Dollar. Indeed, Cable’s decline comes amid the firm demand for the safe-haven space in the wake of the US and Israel attacks to Iran.

Gold battles to retain the positive momentum

Gold now surrenders part of the earlier advance past the $5,400 mark per troy ounce at the beginning of the week. Indeed, the precious metal’s strong uptick remains fuelled by increasing geopolitical tensions in the Middle East amid the intense demand for safer assets.