Natural Gas Futures: Further bounce in the pipeline

CME Group’s flash data for natural gas futures markets noted traders added around 3.5K contracts to their open interest positions on Wednesday, reversing at the same time three consecutive daily pullbacks. On the other hand, volume declined for the fourth straight day, now by around 54.5K contracts.

Natural Gas faces the next up-barrier at $2.70

Wednesday’s decent gains in prices of the natural gas were on the back of increasing open interest, allowing for extra gains in the very near term. Another drop in volume, in addition, is expected to keep the consolidative mood unchanged for the time being.