- April 16, 2021
- Posted by: Analysis Team
- Category: Forex News
CME Group’s advanced prints for Natural Gas futures markets noted open interest shrunk for yet another session on Thursday, this time by around 2.1K contracts. Volume followed suit and retreated for the second session in a row, now by around 1.8K contracts.
NATURAL GAS SEEN STRUGGLING AROUND $2.70/MMBTU
Prices of Natural Gas moved higher on Thursday although they met resistance around the 100-day SMA around $2.68 per MMBtu. Shrinking volume coupled with the persistent downtrend in open interest leaves further upside somewhat limited, with the $2.70 mark emerging as the next key resistance for the time being.