Natural Gas Futures: Downside appears limited

CME Group’s advanced prints for natural gas futures markets noted open interest shrank by around 11.4K contracts, offsetting the previous build. Volume followed suit and dropped for the third session in a row, this time by around 22.7K contracts.

Natural Gas points to extra rangebound

Tuesday’s drop in prices of natural gas was against the backdrop of diminishing open interest and volume, hinting at the idea that a deeper pullback is not favoured in the very near term. On the downside, there is interim support around $3.73, while the $4.00 mark per MMBtu continues to cap occasional bullish attempts.