Natural Gas Futures: Correction loses traction

Considering preliminary figures from CME Group for natural gas futures markets, open interest shrank for the third consecutive session on Monday, now by around 3.2K contracts. On the other hand, volume went up for the third straight session, this time by around 110.5K contracts.

Natural Gas: Next on the downside comes $6.35

Prices of natural gas printed strong losses at the beginning of the week. The move, however, was on the back of shrinking open interest, which is supportive that further retracements could be losing momentum. Against that, the commodity should meet decent contention around the April 25 low at $6.35 per MMBtu.