Natural Gas Futures: Further losses on the cards
|Considering advanced prints from CME Group for natural gas futures markets, open interest increased for the second session in a row on Friday, now by around 23.6K contracts. On the other hand, volume resumed the downside and went down by nearly 26K contracts, partially reversing the previous daily build.
Natural Gas: A test of the 200-day SMA is not ruled out
Prices of natural gas extended the corrective decline on Friday. The downtick was amidst rising open interest and opens the door to further losses in the very near term. Against that, the next contention zone emerges at the key 200-day SMA, today at $2.607 per MMBtu.
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