In light of advanced readings from CME Group for Natural Gas futures markets, open interest and volume shrunk by around 12.3K contracts and by around 136.4K contracts, respectively, on Tuesday.
Natural Gas stay supported by the 200-day SMA
Tuesday’s positive price action in natural gas was on the back of shrinking open interest and volume, removing strength from the bullish attempt and leave the door open for further downside in the very near-term. Against this, the key 200-day SMA now emerges as the next support of note in the $2.45 level per MMBtu.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.