Natural Gas Futures: Extra recovery in store near term

Considering advanced prints from CME Group for natural gas futures markets, open interest resumed the uptrend, rising by around 2.4K contracts, on Wednesday. On the other hand, volume retreated for the third straight session, this time by around 83.8K contracts.

Natural Gas: Further gains need to clear $3.00

Prices of natural gas extended the rebound and flirted with the key $3.00 mark per MMBtu on Wednesday. The move was in tandem with rising open interest and favours the continuation of the rebound in the very near term. Above the $3.00 mark, there are no resistance levels of note until the October highs near $3.50 (October 9).