Natural Gas Futures: Further recovery not favoured
In light of flash data for Natural Gas futures markets from CME Group, open interest decreased for the second session in a row on Thursday, this time by around 8.2K contracts. Volume, instead, resumed the uptrend and rose by around 64.2K contracts.
Natural Gas stays supported around $2.40
Prices of Natural Gas keep flirting with the key 200-day SMA in the $2.50 region. Thursday’s drop in open interest coupled with the small uptick leaves further upside somewhat contained. On the downside, the $2.40 mark per MMBtu emerges as a solid support for the time being.
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