Natural Gas Futures: Extra gains are not ruled out
|Considering advanced prints from CME Group for natural gas futures markets, open interest went up by more than 5K contracts after three daily drops in a row on Thursday. On the opposite side, volume added to the previous daily decline and shrank by nearly 92K contracts.
Natural Gas faces initial hurdle near $2.90
Prices of natural gas climbed to multi-session peaks past $2.80 before receding to the $2.70 region on Thursday. The marginal advance was amidst increasing open interest, which suggests that further gains could be in store in the very near term. Against that, the $2.90 region per MMBtu appears as the immediate resistance for the time being.
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