Taking into account the CME Group’s advanced figures for the Natural Gas futures markets, open interest extended its uptrend one more session on Thursday, now at around 11,400 contracts. Along the same lines, volume reversed two consecutive daily declines and rose around 79,200 contracts.
Natural Gas finds initial support around $3.00
Natural Gas prices fell for the seventh consecutive session on Thursday, steadily losing ground from monthly highs near $3.50 (October 9). The move was in conjunction with increasing open interest and volume and favors the continuation of this corrective movement for the moment. Loss of the key $3.00 per MMBtu level should open the door for additional losses.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
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