Natural Gas Futures: A deeper pullback looks favoured

Considering advanced prints from CME Group for natural gas futures markets, open interest prolonged the uptrend further on Friday, this time by rising by around 9.2K contracts. Volume followed suit and remained choppy after increasing more than 16K contracts.

Natural Gas now targets $3.00

Prices of the natural gas continued its march south at the end of last week amidst rising open interest and volume. Against that, the continuation of the downtrend looks the most likely scenario for the time being, with the immediate target at the key $3.00 mark per MMBtu.