Natural Gas Futures: Extra gains appear limited

Pablo Piovano FXStreet

CME Group’s advanced prints for Natural Gas futures noted open interest shrunk for the second session in a row on Wednesday, now by nearly 21K contracts. On the other hand, volume reversed the previous drop and rose by around 198.1K contracts.

Natural Gas remains capped by $2.80/MMBtu

Wednesday’s positive performance of Natural Gas was amidst diminishing open interest, adding to the idea that further upside could lack of strength. In this regard, the 2020 highs around $2.80/MMBtu still emerges as the next target of relevance.

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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