Considering advanced prints from CME Group for natural gas futures market, open interest resumed the downtrend and shrank by more than 8K contracts on Thursday. On the other hand, volume rose by more than 63K contracts amidst the ongoing erratic performance.
Natural Gas looks under pressure while below $3.00
Thursday’s advance in prices of natural gas was on the back of shrinking open interest, which seems to indicate that the continuation of the recovery is not favoured in the very near term. In the meantime, occasional bullish attempts remain capped by the $3.00 mark per MMBtu.
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