Natural Gas Futures: Extra gains look limited

Investors trimmed their open interest positions for the third consecutive session at the beginning of the week, this time by around 9.6K contracts according to advanced prints from CME Group. Volume, instead, rose for the second day in a row, now by almost 69.5K contracts.

Natural Gas stays focused on $3.00/MMBtu

The weekly recovery in prices of Natural Gas navigates in fresh tops, although shrinking open interest following Monday’s positive price action warns against the continuation of the uptrend, at least in the very near-term. Further upside, as usual, is seen targeting the critical $3.00 mark per MMBtu.