Natural Gas Futures: Further weakness not ruled out

Pablo Piovano FXStreet

Considering advanced prints from CME Group for natural gas futures markets, open interest extended the uptrend on Thursday, increasing by around 18.4K contracts. On the flip side, volume shrank by more than 100K contracts after three consecutive daily builds.

Natural Gas faces the next contention at $3.00

Prices of natural gas declined further on Thursday. The daily drop followed another uptick in open interest, which leaves the commodity vulnerable to further losses in the very near term. Against that, there is an important support zone around the $3.00 mark per MMBtu 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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