Natural Gas Futures: Rising odds for extra gains

CME Group’s advanced figures for Natural Gas futures markets noted open interest went up markedly by around 16.6K contracts on Thursday, reversing at the same time three consecutive daily pullbacks. In the same line, volume rose for the second day in a row, now by more than 152K contracts.

Natural Gas now looks to $2.665

Prices of Natural Gas remain firm and are extending the upside to the vicinity of the $2.60 mark per MMBtu. Thursday’s gains were amidst increasing open interest and volume, leaving the door open for the continuation of the bullish move, at least in the very near-term. That said, the next hurdle of relevance is now at the May 2019 high at $2.665.