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Traders trimmed their open interest positions by nearly 9K contracts on Thursday in light of advanced figures from CME Group. Volume followed suit and shrunk by around 138.2K contracts.

Natural Gas could retest the 200-day SMA near $1.93/MMBtu

Prices of Natural Gas clinched multi-day highs beyond $2.30 per MMBtu on Thursday. The positive performance of prices was amidst shrinking open interest and volume, all indicative that the recent move up was sustained by short covering and opening the door at the same time for a correction lower in the short-term horizon.