Natural Gas Futures: Further gains in the pipeline

Considering advanced prints from CME Group for natural gas futures markets, open interest rose by just 311 contracts at the beginning of the week. In the same line, volume set aside two daily pullbacks and increased by around 69.5K contracts.

Natural Gas keeps targeting the 200-day SMA

Monday’s strong climb in natural gas prices was accompanied by rising open interest and volume and this opens the door to the continuation of the uptrend in the very near term. That said, the immediate up barrier remains at the key 200-day SMA, today at $6.886 per MMBtu.