Natural Gas Futures: Extra gains in the pipeline

Considering advanced prints from CME Group for natural gas futures markets, open interest rose for the second consecutive session on Tuesday, this time by around 7.5K contracts. Volume followed suit and went up by almost 30K contracts, partially reversing the previous daily drop.

Natural Gas now targets $5.00 and above

Prices of the natural gas extended the rebound on Tuesday amidst rising open interest and volume, which remains supportive of the continuation of the uptrend in the very near term at least. Against that, the uptrend should initially target the key $5.00 mark per MMBtu for the time being.