Natural Gas Futures: Correction lower likely near-term
|Traders trimmed their open interest positions in Natural Gas futures markerts for the fourth consecutive day on Friday, this time by nearly 9.8K contracts in light of advanced prints from CME Group. On the opposite side, volume extended the choppy activity and went up by almost 59K contracts.
Natural Gas prices now target $3.00/MMBtu
Prices of Natural Gas trade in fresh yearly highs past the $2.90 mark per MMBtu. Frida’s strong gains, however, were in tandem with diminishing open interest, hinting at the idea that a correction lower could be shaping up.
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.