Natural Gas Futures: Further consolidation in the pipeline

In light of advanced readings for Natural Gas futures markets from CME Group, open interest rose for the third session in a row at the beginning of the week, this time by more than 16K contracts. Volume, instead, reversed two straight pullbacks and shrunk by around 102.4K contracts.

Natural Gas met support near $2.80/MMBtu

Prices of Natural Gas charted an inconclusive session on Monday, although the commodity met decent contention around the $2.80 per MMBtu. The doji-like session was in tandem with rising open interest, opening the door to further rangebound at least in the very near-term horizon.