Natural Gas Futures: Rally looks exhausted?

Pablo Piovano FXStreet

In light of advanced figures from CME Group for natural gas futures markets, open interest dropped for the third session in a row on Thursday, this time by just 541 contracts. Volume, on the other hand, extended the choppy activity and increased by around 127.4K contracts.

Natural Gas faces strong hurdle at $3.80

Thursday’s uptick in natural gas was accompanied by a small drop in open interest, leaving the prospects for further upside somewhat curtailed. Against this, the $3.80 mark per MMBtu continues to cap occasional bullish attempts 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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