Natural Gas Futures: Rebound has further legs to go

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Open interest in natural gas futures markets went up for the second straight session on Monday, now by 963 contracts, according to preliminary readings from CME Group. Volume followed suit and rose by around 37.3K contracts following three consecutive daily pullbacks.

Prices of natural gas started the week on a positive foot and moved further north of the $8.00 mark on Monday. The daily uptick was on the back of increasing open interest and volume, which is indicative that further gains look favoured in the very near term.

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