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Natural Gas Futures: Door open to further losses
In light of advanced results from CME Group for natural gas futures markets, open interest extended the uptrend on Friday, now by around 4.3K contracts. In the same direction, volume reversed two daily drops in a row and increased by around 45.7K contracts.
Natural Gas: A drop to $4.75 appears in store
Prices of natural gas dropped further on Friday amidst increasing open interest and volume, which is supportive of the continuation of the decline in the very near term. Against that, a potential test of the October low at $4.75 per MMBtu seems to have started to emerge on the horizon.
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