Natural Gas Futures: A near-term rebound in the offing
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Considering advanced prints from CME Group for natural gas futures markets, open interest resumed the downtrend and shrank by nearly 6K contracts on Thursday. On the other hand, volume rose by around 93.1K contracts after four daily drops in a row.
Prices of natural gas remained choppy on Thursday and traded on the back foot amidst diminishing open interest and rising volume. That said, while a rebound seems likely in the very near term, the broader consolidation scenario remains unchanged for the time being.
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