Open interest in natural gas futures markets extended Wednesday’s uptrend by another session, this time by more than 1,000 contracts according to preliminary readings from CME Group. On the other hand, volume contracted for the second straight day, now by almost 36,000 contracts.
Natural Gas: No changes to the consolidating theme
Prices from natural gas rose on Wednesday amid rising open interest on the previous session’s gains and supports more gains in the very near future. However, the continued decline in volume could take the strength out of this view, leaving the ongoing consolidation theme good for now.
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