Considering advanced prints from CME Group for natural gas futures markets, open interest remained choppy and went up by around 19.5K contracts on Thursday. In the same direction, volume resumed the uptrend and increased by around 32.4K contracts.
Natural Gas: Next on the downside comes $2.600Prices of natural gas seem to have entered a consolidative phase in the lower end of the monthly range. Thursday’s inconclusive price action came in tandem with rising open interest and volume and exposed further side-lined trading in the very near term. In the meantime, the key 200-day SMA near the $2.600 region per MMBtu continues to hold the downside for the time being.
More By This Author:Crude Oil Futures: Door Open To Extra Retracements Gold Futures: Further Rebound Likely EUR/USD Price Analysis: Upside Limited Just Above 1.1000
