NATURAL GAS FUTURES: FURTHER GAINS LOOK LIKELY
Considering advanced prints from CME Group for natural gas futures markets, open interest rose marginally by 221 contracts at the end of last week, resuming the uptrend following the previous small drop. On the other hand, volume went down for the second straight session, now by around 68.2K contracts.
Natural Gas: Next up barrier comes at $2.80
Friday’s uptick in prices of natural gas was amidst a small increase in open interest, which seems to be enough to allow for the continuation of the rebound in the very near term. On its way north, the next hurdle comes at the weekly top around $2.80 per MMBtu (July 20).
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.