CME Group’s advanced prints showed traders increased their open interest positions in Natural Gas futures markets by nearly 18.8K contracts on Monday. In the same line, volume went up by around 81.7K contracts.
Natural Gas flirts with the 200-day SMA near $2.50
Prices of Natural Gas retreated markedly on Monday. The move was accompanied by rising open interest and volume and opens the door to further pullbacks in the very near-term. That said, the 200-day SMA around $2.50 offers initial support ahead of the March lows near the $2.40 mark per MMBtu.
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