Natural Gas Futures: Extra rangebound looks likely

Traders trimmed their open interest positions in Natural Gas futures markets for the third straight session at the beginning of the week, this time by around 2K contracts. In the same direction, volume shrunk for the second consecutive session, now by around 76.1K contracts.

Natural Gas could attempt some consolidation

Prices of Natural Gas charted and inconclusive session on Monday amidst shrinking open interest and volume. The unclear direction in the commodity is poised to persist at least in the very near-term, supporting the emergence of some consolidation.