Natural gas futures: Upside bias remains unchanged: (NG = f) has decreased by over 1% in the last 24 hours
(VIANEWS) – Preliminary data from CME Group shows that open interest in the natural gas futures markets rose to 7.8K contracts after two consecutive drops at the beginning of the week. The volume followed the trend and rose by almost 15,000 contracts.
FXStreet reports that natural gas prices hit new highs on Monday at $ 4.20 per MMBtu YTD. The meeting ended at 4:10 a.m. afterwards. The rising volume and open interest in natural gas make further price increases more likely, but the persistently overbought condition of the raw materials requires corrections to be made soon.
Natural gas (NG = f) is currently in a declining momentum. At 9:04 AM EST on Tuesday, July 27th, Natural Gas (NG = f) is at $ 4.04, down 1.61% since the last session ended.
The most recent volume reported for natural gas today is 6409, 100% below its average volume of 24953023962.63.
Natural gas range
As for Natural Gas daily highs and lows, it is 1.417% below its last 24-hour low of $ 4.09 and 1.681% below its last 24-hour high of $ 4.11.
The current volatility of natural gas was 1.53%, 0.83% and 1.41%, respectively, for the last week, last month, and last quarter.
The current volatility rank of natural gas, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 1.53% (last week), 1.46% (last month) and 1, 41% (last quarter). respectively.
Price classification of goods
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, the raw material of natural gas is considered oversold (<= 20).
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