Natural Gas Futures: Scope for further correction

Pablo Piovano FXStreet

Considering advanced prints from CME Group for natural gas futures markets, open interest rose for the second session in a row on Friday, now by nearly 8K contracts. Volume, instead, dropped for the third straight session, this time by more than 2K contracts.

Natural Gas: Upside remains capped around $3.00

Natural gas prices rose to fresh monthly tops near the $3.00 mark before ending Friday’s session with modest losses. The move was amidst rising open interest and opens the door to further correction in the very near term. That said, the $3.00 region per MMBtu remains a tough barrier for natural gas bulls 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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