Natural Gas Futures: Downtrend appears unabated
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.