Natural Gas: Downside looks contained

Considering advanced prints from CME Group for natural gas futures markets, open interest dropped for the fourth consecutive session on Monday, this time by around 10.8K contracts. On the flip side, volume rose by around 49.2K contracts, reversing at the same time two daily pullbacks in a row.

Natural Gas: Upside still targets the $6.50 mark

Monday’s decline in prices of natural gas was in tandem with shrinking open interest, hinting at the view that the continuation of the downtrend could lack vigour in the very near term. Looking at the broader picture, the resumption of the uptrend keeps targeting the area of recent 2021 peaks around the $6.50 mark per MMBtu.