Natural Gas Futures: Extra range bound in store near term
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Considering advanced prints from CME Group for natural gas futures markets, open interest clinched the second consecutive daily drop on Wednesday, this time by around 6.2K contracts. On the other hand, volume went up by around 54.3K contracts after four consecutive daily pullbacks.
Prices of natural gas charted an inconclusive session once again on Wednesday amidst shrinking open interest and rising volume, exposing the continuation of the ongoing side-lined theme in the very near term. In the meantime, there is still a decent support around the $7.50 region per MMBtu.
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