Natural Gas Futures: Room for extra downside

In light of advanced prints for Natural Gas futures markets, open interest and volume extended the recent uptrend and rose by around 4.3K contracts and by around 153.1K contracts, respectively, on Tuesday.

Natural Gas could break below $3.00/MMBtu

Prices of Natural Gas continued its corrective downside from 2020 peaks on Tuesday. The move was accompanied by rising open interest and volume, leaving the door open for a deeper pullback to, potentially, the sub $3.00 area per MMBtu in the veery near-term.