CME Group’s advanced readings for natural gas futures markets noted open interest rose for the second session in a row on Friday, this time by around 2.9K contracts. On the other hand, volume retreated for the third consecutive session, this time by around 26.6K contracts.
Natural Gas still targets $3.00/MMBtu
Prices of natural gas closed on a positive note last Friday in tandem with rising open interest, which should be supportive of the continuation of the upside in the very near-term at least. Against this, the commodity still faces relevant resistance at the key $3.00 mark per MMBtu.
Credit: FX Street