Natural Gas Futures: A deeper retracement remains in store
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Considering advanced prints from CME Group for natural gas futures markets, open interest went up for the third session in a row on Friday, this time by around 3.5K contracts. In the same line, volume remained choppy and increased by more than 15K contracts.
Prices of natural gas extended the sell-off for yet another session on Friday. The continuation of the downtrend was amidst rising open interest and volume and leaves the door open to extra decline in the short-term horizon. That said, the next contention of note is now seen at the February low around $3.87 mark per MMBtu.
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