Natural Gas Futures: Neutral/bullish near-term

According to advanced readings from CME Group, open interest in Natural Gas futures markets rose by nearly 4K contracts on Friday, extending the uptrend in place since November 5. Volume, on the other hand, decreased for the third session in a row, now by 9.1K contracts.

Natural Gas still looks supported around $2.80

Friday’s uptick in prices of Natural Gas was accompanied by rising open interest, allowing for the continuation of the recovery. In the meantime, the $2.80 level per MMBtu remains as a key contention area in the short-term horizon and is expected to hold occasional bearish moves.