Natural Gas Futures: Scope for further upside

Pablo Piovano FXStreet

According to advanced prints for natural gas futures markets from CME Group, open interest increased for yet another session on Tuesday, now by 824 contracts. Volume followed suit and went up markedly by 357K contracts.

Natural Gas now focuses on $3.40/MMBtu

Tuesday’s positive price action in natural gas was on the back of increasing open interest and volume, allowing for extra gains in the very bear-term. Against this, the 2020 highs near the $3.40 mark per MMBtu (October 30) now turns out as the next target of significance.

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.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.