Natural Gas Futures: Potential rebound near-term

CME Group’s advanced prints for Natural Gas futures markets showed open interest and volume shrunk by around 11.3K contracts and by around 78.1K contracts, respectively, on Friday.

Natural Gas looks supported by the 200-day SMA

Friday’s negative price action in Natural Gas was accompanied by diminishing open interest and volume, opening the door to a probable bounce in the very near-term. Next on the upside appears the 50-day SMA around $2.73 per MMBtu, while the 200-day SMA around $2.48 is seen holding the downside for the time being.