Natural Gas Futures: Door open to extra gains near term
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Considering advanced prints from CME Group for natural gas futures markets, open interest reversed two consecutive daily drops and increased by around 5.5K contracts on Friday. In the same line, volume went up by nearly 105K contracts also following two daily pullbacks in a row.
Prices of natural gas charted a strong advance on Friday against the backdrop of rising open interest and volume. That said, further upside now appears on the cards, with the next up barrier at the October high near the $7.20 mark per MMBtu (October 6).
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