Natural Gas Futures: Shrinking odds for extra decline

Pablo Piovano FXStreet

CME Group’s flash data for Natural Gas futures markets noted open interest went down by around 4.7K contracts on Thursday, reversing the previous small build. Volume, on the other hand, sharply reversed two consecutive pullbacks and rose by almost 324K contracts.

Natural Gas meets support near $2.50… for now

Thursday’s negative price action saw Natural Gas receding to multi-week low near the $2.50 per MMBtu, just to regain some traction soon afterwards. That said, diminishing open interest allows for a rebound in the very near-term while the $2.50 region should hold further selling impetus 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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