In light of advanced readings from CME Group, open interest in Natural Gas futures markets rose for the second session in a row, now by around 2.2K contracts. In the same line, volume rose sharply by around 115.2K contracts.
Natural Gas faces contention around $2.40/MMBtu
Natural Gas dropped further on Monday amidst rising open interest and volume. Against this, there is now scope for a deeper pullback to, initially, the 200-day SMA around $2.45 ahead of the yearly lows near the $2.40 per MMBtu recorded on January 22.
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