Natural Gas Futures: Scope for a deeper correction
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
Open interest in natural gas futures markets resumed the uptrend and rose by nearly 11K contracts at the beginning of the week according to preliminary readings from CME Group. In the same line, volume advanced for the second session in a row, this time by around 24.1K contracts.
Natural gas started the new month on the defensive amidst rising open interest and volume, exposing further weakness in the very near term and with a potential drop to the $6.00 mark per MMBtu now on the cards.
[/s2If]
Join Our Telegram Group
