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Market Analysis
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More Consolidation Expected in Natural Gas Futures: Natural Gas Futures saw another round of consolidation ahead. According to the latest data from CME Group, open interest declined for the second consecutive session on Monday, with a decrease of only 732 contracts this time. Similarly, trading volume has dropped for the fourth consecutive session, this time by approximately 23.8K contracts.
Natural Gas: Initial Support Found at $2.60 At the start of the week, natural gas prices continued to rise following Friday's increase, despite decreasing open interest and trading volume. Nevertheless, further upward movement seems improbable at the moment, paving the way for continued range-bound trading in the short term, with initial support emerging around the $2.60 per MMBtu region.
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