Natural Gas Futures: Correction likely in the near term
|CME Group’s flash data for natural gas futures markets noted traders trimmed their open interest positions for the second session in a row on Friday, this time by around 1.1K contracts. Volume followed suit and went down by around 139.3K contracts, resuming the downtrend following the previous daily build.
Natural Gas: Increased volatility could reach $4.00
Prices of natural gas jumped past $3.60 for the first time since mid-January on Friday. The marked uptick, however, was on the back of dwindling open interest and volume and exposes some corrective move in the very near term. In the meantime, a retest of the $4.00 region should not be ruled out amidst the current backdrop of high volatility.
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