Natural Gas Futures: Downside appears limited

According to advanced prints from CME Group for Natural Gas futures markets noted open interest shrunk for the third straight session on Thursday, this time by more than 1K contracts. Volume, instead reversed two consecutive drops and advanced by 46.8K contracts.

Natural Gas faces support around $1,70/MMBtu

Prices of Natural Gas are extending the leg lower so far this week. However, Thursday’s negative price action was accompanied by another drop in open interest, indicative that a deeper pullback is not favoured for the time being.