Pablo Piovano | Natural Gas Futures: A knee jerk likely in the near term

Including late releases from CME Group for the natural gas futures markets, open interest fell nearly 3.5k contracts on Monday, partially reversing the previous daily increase. Instead, volume rose nearly 48,000 contracts after two consecutive daily declines.

Natural gas faces initial support around $2.50

The price increase on Monday from natural gas was accompanied by a fall in open interest and a rise in volume, leaving the door open for a minor corrective pullback amid the prevailing consolidation phase. So far there is good controversy in the $2.50 per MMBtu range.

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