Natural Gas Futures: Door open to extra decline
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Considering advanced prints from CME Group for natural gas futures markets, open interest resumed the uptrend and increased by around 13.6K contracts on Monday. Volume followed suit and rose by around 35.4K contracts, up for the third straight session.
Monday’s retracement in prices of the natural gas came in tandem with rising open interest and volume, hinting at the likelihood of extra weakness in the very near term. So far, the $2.50 region per MMBtu seems to have emerged as a tough contention area for the commodity.
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