Natural Gas Futures: Extra gains are not ruled out
Considering advanced prints from CME Group for natural gas futures markets, open interest went up by more than 5K contracts after three daily drops in a row on Thursday. On the opposite side, volume added to the previous daily decline and shrank by nearly 92K contracts.
Natural Gas faces initial hurdle near $2.90
Prices of natural gas climbed to multi-session peaks past $2.80 before receding to the $2.70 region on Thursday. The marginal advance was amidst increasing open interest, which suggests that further gains could be in store in the very near term. Against that, the $2.90 region per MMBtu appears as the immediate resistance for the time being.
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