Natural Gas Futures: Room for further rebound

Pablo Piovano FXStreet

Considering advanced prints from CME Group for natural gas futures, open interest extended the uptrend on Friday, this time rising by around 7.6K contracts. Volume, in the same line, went up by around 25.4K contracts after two daily drops in a row.

Natural Gas: No changes to the consolidative theme

Prices of the natural gas bounced off lows near the $2.00 mark per MMBtu against the backdrop of increasing open interest and volume on Friday. That said, further gains now emerge on the horizon in the very near term and are expected to meet interim resistance at the 55-day SMA near $2.32.

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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