Natural Gas Futures: A deeper decline looks favoured
|Considering advanced prints from CME Group for natural gas futures markets, open interest rose by around 22.3K contracts after three consecutive daily drops on Tuesday. In the same direction, volume remained choppy and rose by around 90.5K contracts following the previous daily drop.
Natural Gas: Next contention emerges near $2.40
Natural gas prices extended the weekly leg lower on Tuesday. The daily pullback was in tandem with increasing open interest and volume and seems to favour further retracements in the very near term. That said, there is an interim contention around the 100-day SMA near $2.50 ahead of the August low near the $2.40 mark per MMBtu.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.