Natural Gas Futures: Room for extra downside

In light of advanced prints from CME Group for natural gas futures markets, traders added around 1.6K contracts to their open interest positions on Tuesday. On the other hand, volume extended the erratic activity and shrank by almost 70K contracts.

Natural Gas meets support near $3.50

Prices of natural gas closed Tuesday’s session with moderate losses in a context of increasing open interest. Against this, further decline is not ruled out in the near term, with decent contention emerging around the $3.50 mark per MMBtu.