Natural Gas Futures: Room for further rebound
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Considering advanced prints from CME Group for natural gas futures, open interest extended the uptrend on Friday, this time rising by around 7.6K contracts. Volume, in the same line, went up by around 25.4K contracts after two daily drops in a row.
Prices of the natural gas bounced off lows near the $2.00 mark per MMBtu against the backdrop of increasing open interest and volume on Friday. That said, further gains now emerge on the horizon in the very near term and are expected to meet interim resistance at the 55-day SMA near $2.32.
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