According to advanced figures for Natural Gas futures markets, open interest extended the recent erratic performance and went up by nearly 9.2K contracts on Tuesday. On the other hand, volume partially reversed the previous build and dropped by nearly 37K contracts.
Natural Gas looks capped around $3.00/MMBtu
Tuesday’s drop in prices of Natural Gas was amidst rising open interest, indicative that further retracements could be in the pipeline in the very near-term. Against this, another visit to the November’s low near $2.50 per MMBtu still remains on the cards.
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