Open interest and volume in Natural Gas futures markets went down by just 218 contracts and by around 153.6K contracts, respectively, on Friday, in light of flash readings from CME Group.
Natural Gas Prices Forecast
Friday’s negative move in prices of Natural Gas was in combination with shrinking open interest and volume, supporting the idea that pullbacks appear somewhat limited in the very near-term.
That said, Natural Gas faces initial contention at monthly lows at $1.736 (June 10) followed by the 2020 lows in the $1.57 area (April 2). On the other hand, monthly tops beyond $1.91 emerge as the next hurdle ahead of the key barrier at the $2.00 mark.
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