Natural Gas Futures: Extra rebound in the pipeline
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Considering advanced prints from CME Group for natural gas futures markets, traders increased their open interest positions for the fourth session in a row on Thursday, this time by around 3.2K contracts. In the same direction, volume rose for the second straight day, now by around 41.5K contracts.
Prices of natural gas charted a decent rebound on Thursday. The move was against the backdrop of rising open interest and volume and opens the door to further upside in the very near term. That said, there is an immediate target at the so far October peak at $7.188 per MMBtu (October 6).
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