Natural Gas Futures: Extra range bound on the cards

Considering advanced prints from CME Group for natural gas futures markets, open interest shrank for the second session in a row on Monday, this time by around 2.2K contracts. In the opposite direction, volume resumed the upside ad went up by around 28.5K contracts.

Natural Gas remains capped by $5.00

Prices of natural gas charted an inconclusive session after faltering once again at the $5.00 area on Monday. The move was in tandem with shrinking open interest and higher volume, opening the door to further side-line trading in the very near term and with the $5.00 mark per MMBtu still limiting the upside.