Natural Gas Futures: Rally has further legs to go

Pablo Piovano FXStreet

According to advanced figures from CME Group for natural gas futures markets, open interest reversed two daily pullbacks in a row and increased by nearly 1.7K contracts on Monday. In the same line, volume went up by nearly 130K contracts following two straight daily drops.

Natural Gas: Is the correction finally coming?

The rally in natural gas remains unabated and recorded new 2021 highs well past the $5.00 mark per MMBtu on Monday. The move was once again accompanied by rising open interest and volume, suggestive that extra gains still lie ahead despite the overbought condition of the commodity begs for a corrective downside in the very near term.

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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