Natural Gas Futures: Bullish momentum looks solid

In light of flash data from CME Group for natural gas futures markets, open interest increased by around 7.3K contracts after four consecutive daily pullbacks on Wednesday. In the same direction, volume extended the choppy activity and went up by around 218.7K contracts.

Natural Gas: Time for a correction?

Prices of natural gas climbed to levels last seen in February 2014 beyond $5.60 on Wednesday, although they eventually closed below $5.50. The price action was on the back of rising open interest and volume, which could be supportive of further retracement in the very near term, although further gains should not be ruled out just yet. On the latter, the next target now emerges at the February 2014 highs near the $6.50 mark per MMBtu.