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Further decline on the cards

October 17, 2023| Forex Market


Considering advanced prints from CME Group for natural gas futures markets, open interest increased for the fourth session in a row at the beginning of the week, now by around 2.5K contracts. In the same line, volume reversed two daily drops in a row and rose by around 81.1K contracts.

Natural Gas: Initial support emerges around $3.00

Monday’s decline in prices of natural gas was in tandem with rising open interest and volume, which is indicative that extra retracements remain in store for the commodity in the very near term. In the meantime, there is a decent contention around the key $3.00 mark per MMBtu.

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