Gains In Prices Of The Natural Gas Was In Tandem With Increasing Open Interest| FXMAG.COM

Natural Gas: Another test of $3.50 remains on the cards

Open interest in natural gas futures markets increased further at the beginning of the week, now by around 1.2K contracts according to advanced prints from CME Group. Volume, in the same line, gained around 121.4K contracts and set aside the previous daily drop.

Natural Gas: Another test of $3.50 remains on the cards

Monday’s decent gains in prices of the natural gas was in tandem with increasing open interest and volume, suggesting that extra gains could be in store for the commodity in subsequent sessions. However, the inability to gather convincing upside traction in the very near term could expose another potential visit to the contention area near the $3.50 mark per MMBtu.