Natural Gas Futures: Rebound likely near-term

Pablo Piovano FXStreet

CME Group’s advanced figures for Natural Gas futures markets noted open interest extended the choppy activity and dropped by around 7.1K contracts on Monday. In the same line, volume shrunk for the fifth session in a row, this time by around 5.4K contracts.

Natural Gas re-targets the $3.00 mark

The decline in prices of Natural Gas appears to have met some contention in the vicinity of the $2.80 mark at the beginning of the week. The daily drop was on the back of shrinking open interest and volume, allowing for a near-term rebound with the target at the key $3.00 mark per MMBtu.

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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