Natural Gas Futures: Upside looks limited

Considering preliminary readings from CME Group for natural gas futures markets, open interest shrank by nearly 5K contracts on Thursday. Volume, instead, increased by more than 100K contracts.

Natural Gas appears supported near $5.30

Thursday’s strong rebound in prices of natural gas was amidst shrinking open interest, indicative that extra gains appear somewhat capped. Against that, another test of the contention area near $5.30 per MMBtu should not be ruled out in the short term