Natural Gas Futures: Too high, too fast??
|CME Group’s flash data for natural gas futures markets noted traders reduced their open interest positions by more than 15K contracts on Thursday vs. the previous daily build. Volume, instead, left behind three consecutive daily drops and rose markedly by around 244.5K contracts.
Natural Gas: A move to $4.00 does not look favoured
Prices of natural gas jumped well past the $3.00 mark per MMBtu on Thursday. The strong rebound, however, was accompanied by dwindling open interest, which suggest the idea that a sustained advance should not be favoured for the time being. Next on the upside, in the meantime, emerges the round level at $4.00, an area last traded in early January.
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