Natural Gas Futures: Retracement is not over yet

Open interest in natural gas futures markets increased for the third session in a row on Thursday, this time by around 4.5K contracts in light of flash data from CME Group. In the same line, volume rose significantly for the second straight session, now by around 471.4K contracts.

Natural Gas risks further pullbacks

The correction lower in prices of natural gas is expected to extend further following Thursday’s negative price action in combination with rising open interest and volume. That said, a move lower to the 200-day SMA, today around $2.12/MMBtu, should not be ruled out just yet.