08:34:33 02-12-2021
Natural Gas Futures: Downside could be losing momentum
Considering advanced figures for natural gas futures markets from CME Group, open interest shrank for the third straight session on Wednesday, this time by around 2.8K contracts. Volume, instead, rose for the third consecutive day, now by around 3.3K contracts.
Natural Gas: Next stop at the 200-day SMA around $3.87
The selloff in prices of the natural gas continued on Wednesday. The negative move was on the back of shrining open interest, which could remove some momentum from the leg lower. Against that, the next target of note for bears emerges at the 200-day SMA, today around $3.87 per MMBtu.
