Natural Gas Futures: Further weakness in the pipeline

Pablo Piovano FXStreet

Considering advanced prints from CME Group for natural gas futures markets, open interest maintained the choppy activity in place and went up by around 3.7K contracts on Monday. In the same direction, volume rose by around 91.6K contracts following the previous daily drop.

Natural Gas appears supported by the 200-day SMA

Prices of natural gas started the new trading week on the back foot amidst increasing open interest and volume. That said, further decline carries the potential to drag the commodity to the key 200-day SMA around the $2.620 region 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.

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