Natural Gas Futures: Room for extra advance near term

Considering advanced prints from CME Group for Natural Gas futures markets, open interest extended the uptrend and increased by just 946 contracts at the beginning of the week. In the same direction, volume rose by around 122.4K contracts after two consecutive daily pullbacks.

Natural Gas now retargets $3.60 and above

Monday’s strong rebound in prices of natural gas came in tandem with increasing open interest and volume, paving the way for extra gains in the very near term and with the immediate up-barrier at the so far October top near $3.65 per MMBtu (October 27).