Natural Gas Futures: Further gains in store near term
…
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)]
Considering advanced prints from CME Group, open interest in natural gas futures markets went up by nearly 7K contracts last Friday, leaving behind the previous daily drop. In the same line, volume rose by around 127.3K contracts and kept the choppy activity well in place for yet another session.
Prices of the natural gas closed just above the key $3.00 marl for the first time since late January on Friday. The marked bounce was also amidst increasing open interest and volume and is indicative that further gains lie ahead in the very near term. That said, the next up barrier aligns at the Fibo retracement near the $3.20 level per MMBtu.
[/s2If]
Join Our Telegram Group
