Natural Gas Futures: Leg lower has further room to go

Pablo Piovano FXStreet

According to advanced prints for Natural Gas futures markets from CME Group, open interest rose for the second straight sessions, this time by around 8.5K contracts. In the same direction, volume reversed the previous’ day drop and increased by nearly 2.3K contracts.

Natural Gas eases from 2020 highs around $3.40/MMBtu

Prices of Natural Gas shed further ground after hitting fresh yearly highs around the $3.40 mark per MMBtu on Friday/Monday. The recent negative performance was amidst rising open interest and volume, opening the door for the continuation of the corrective downside in the short-term horizon.

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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