Natural Gas Futures: Neutral/bullish near term

Pablo Piovano FXStreet

CME Group’s flash data for natural gas futures markets noted open interest rose for the second session in a row, this time by nearly 10K contracts. On the other direction, volume reversed three daily pullbacks and shrank by around 193.1K contracts.

Natural gas now targets the YTD highs around $3.30

Natural gas prices charted an inconclusive session on Wednesday, closing the day with small gains amidst increasing open interest. That said, while some consolidation is likely in the short-term horizon, natural gas could still re-visit the so far 2021 peaks above the $3.30 mark per MMBtu (February 17).

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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