Natural Gas Futures: Extra rebound in store
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Considering advanced prints from CME Group for natural gas futures markets, open interest went up for the second session in a row on Wednesday, now by around 1.5K contracts. Volume, instead, partially reversed the previous build and shrank by around 9.2K contracts.
Prices of natural gas charted modest losses after rebounding from daily lows near $5.30 on Wednesday. The bounce was on the back of rising open interest, leaving the door open to the continuation of this move in the very near term and with the immediate target at the 200-day SMA, today around $6.72 mark per MMBtu.
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