CME Group’s advanced prints for Natural Gas futures markets noted open interest went down by around 10.3K contracts on Thursday, following two consecutive daily builds. In the same direction, volume shrunk by round 24.8K contracts.
Natural Gas still eyes a move to $2.00/MMBtu
Thursday’s negative price action in Natural Gas was in tandem with declining open interest and volume, leaving scarce room for a deeper pullback and instead favouring the continuation of the uptrend. That said, the key barrier at the $2.00 mark emerges as the next target of note.
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