Because of CME Group’s advanced prints for natural gas futures markets, open interest continued to rise for another session on Thursday, rising by over 21.5K contracts. Instead, volume fell for the second straight session, this time by about 130.7K contracts.
Natural gas continues to have a strong upward tendency. The bullish price movement on Thursday was accompanied by increased open interest, indicating that additional gains are still possible in the near future. The $3.80 per MMBtu threshold, though, appears to be the next noteworthy aim. However, while natural gas continues to trade in overbought territory, a corrective dip remains a distinct possibility./n
