In light of advanced readings from CME Group for Natural Gas futures markets, open interest prolonged the downtrend on Thursday, this time shrinking by just 175 contracts. Volume, instead, reversed four consecutive sessions and went up by nearly 96.3K contracts.
Natural Gas favours extra consolidation
Thursday’s negative performance in Natural Gas markets was accompanied by declining open interest, noting that further downside is not favoured for the time being. Along with the downtrend in volume, further consolidation at current levels should not be ruled out for the time being.
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