Natural Gas Futures: Rebound could extend further

Pablo Piovano FXStreet

CME Group’s flash readings for Natural Gas futures markets noted open interest rose by almost 14.1K contracts on Friday, reversing the previous build. Volume, instead, shrunk for the second session in a row, this time by around 103.3K contracts.

Natural Gas still focused on $2.00/MMBtu

Friday’s test and rebound from the 100-day SMA near $1.82 was amidst rising open interest, reinforcing the view of the resumption of the upside momentum in the short-term horizon. With this in mind, the $2.00 per MMBtu still emerges as the next key target for Natural Gas.

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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