Natural Gas Futures: Further downside on the cards

Open interest in natural gas futures markets increased for the third session in a row on Monday according to advanced prints from CME Group. Volume followed suit and rose by around 5.5K contracts.

Natural Gas could revisit the 200-day SMA

Prices of natural gas extended the downside at the beginning of the week amidst increasing open interest and volume, refocusing the attention to the 200-day SMA around $4.30 per MMBtu as the next target of note in case the downtrend accelerates.