NATURAL GAS FUTURES: EXTRA LOSSES IN STORE NEAR TERM
Open interest in natural gas futures markets extended the uptrend on Wednesday, this time increasing by nearly 16K contracts according to preliminary readings from CME Group. In the same direction, volume rose for the third straight session, now by around 43.3K contracts.
Natural Gas: Next support emerges at $3.00
Prices of natural gas dropped further on Wednesday amidst increasing open interest and volume. That said, the continuation of the ongoing correction appears well on the cards in the very near term and with the immediate support at the key $3.00 mark per MMBtu.
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.