Natural Gas Futures: Further weakness in the pipeline

Considering advanced prints from CME Group for natural gas futures markets, open interest maintained the choppy activity in place and went up by around 3.7K contracts on Monday. In the same direction, volume rose by around 91.6K contracts following the previous daily

Natural Gas appears supported by the 200-day SMA

Prices of natural gas started the new trading week on the back foot amidst increasing open interest and volume. That said, further decline carries the potential to drag the commodity to the key 200-day SMA around the $2.620 region per MMBtu.