Home Natural Gas Futures: Scope for a move lower

Natural Gas Futures: Scope for a move lower

Published date: 3 Jun. 2021 | 07:31

According to advanced prints for natural gas futures markets from CME Group, open interest rose for yet another session on Wednesday, now by around 4.3K contracts. On the opposite side, volume extended the erratic activity and went down by around 216.7K contracts.

Natural Gas faces initial support at $2.83

Wednesday’s downtick in natural gas prices was accompanied by rising open interest, allowing for further retracements in the very near-term. That said, a deeper pullback is expected to meet contention in the weekly lows around the $2.83 mark per MMBtu.

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