In light of advanced prints from CME Group for Natural Gas futures markets, open interest dropped for the second consecutive session on Wednesday, this time by around 2.7K contracts. Volume followed suit and extended the downtrend for yet another session, now by around 141.3K contracts.
Natural Gas prices face resistance near $1,85/MMBtu
Prices of Natural Gas are extending the rebound from recent lows in the $1,75 area. Diminishing open interest and volume amidst rising prices, however, are predicted to meet strong hurdle in the $1.825/$1.832 band, where coincide the 100-day and 55-day SMAs.