1 Nov 2022
Natural Gas Futures: Door open to further gains
CME Group’s flash data for natural gas futures markets noted open interest rose for the 5th consecutive session on Monday, this time by more than 2K contracts. Volume, in the meantime, reversed three daily drops in a row and went sharply by nearly 128K contracts.
Natural Gas now targets the 200-day SMA
Monday’s strong advance in prices of natural gas was accompanied by increasing open interest and volume, allowing the commodity to extend the bounce in the very near term and with the immediate hurdle at the 200-day SMA, today at $6.750 per MMBtu.
