Natural Gas Futures: Downtrend appears unabated

Pablo Piovano FXStreet

Considering advanced figures from CME Group for natural gas futures markets, open interest rose for yet another session on Monday, this time by nearly 2K contracts. In the same line, volume resumed the uptrend and left behind the previous pullback, rising by around 45.8K contracts.

Natural Gas still targets the $2.45 region

Monday saw another negative performance of prices of the natural gas, extending further the recent breakdown of the key $3.00 mark. The move was on the back of increasing open interest and volume and is supportive of extra weakness in the very near term, always with the immediate target around the $2.45 mark per MMBtu.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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