Natural Gas Futures: Upside momentum looks firm

Pablo Piovano FXStreet

Open interest in Natural Gas futures markets rose by nearly 11.7K contracts on December 31^st following seven consecutive daily pullbacks, according to advanced figures for CME Group. Volume followed suit and increased by nearly 115.7K contracts after two drops in a row.

Natural Gas shifts the focus to $3.00/MMBtu

Thursday’s positive price action in Natural Gas was amidst rising open interest and volume, leaving the door open for the continuation of the uptrend in the very near-term. Against that, the next level of relevance is now at the $3.00 mark per MMBtu, area last traded in November.

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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