Considering advanced prints from CME Group for natural gas futures markets, open interest rose by around 6.2K contracts on Thursday after two consecutive daily pullbacks. On the opposite direction, volume kept the choppiness well in place and went down by around 54.8K contracts.
Natural Gas: Upside capped by $3.00 so far
Thursday’s small uptick in prices of the natural gas was amidst rising open interest and a moderate retracement in volume. Against that, the continuation of the consolidative phase is expected to remain unchanged for the time being, with occasional bullish attempts still limited by the $3.00 mark per MMBtu.
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