Natural Gas Futures: Extra gains not favoured

In light of flash data for Natural Gas futures markets, open interest rose by 929 contracts on Tuesday, advancing for the second session in a row. On the other hand, volume went down by around 37.2K contracts, partially reversing the previous daily build.

Natural Gas stays supported by the 200-day SMA

Prices of the Natural Gas failed to advance further north of the $2.70 mark per MMBtu and closed Tuesday’s session with losses. The downtick was in tandem with rising open interest, indicative that a move lower is likely in the very near-term. That said, the 200-day SMA, today around $2.49, continues to hold the downside.