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A deeper decline appears unlikely – Crypto News
In light of advanced prints from CME Group for natural gas futures markets, open interest reversed two consecutive daily builds and shrank by around 29.2K contracts on Friday. Volume followed suit and resumed the decline, now by nearly 80K contracts.
Natural Gas faces initial resistance near $2.70.
Prices of natural gas lost traction following a move to multi-week highs on Friday. The corrective drop was amid shrinking open interest and volume, removing strength from a potential deeper pullback in the very near term. So far, there is a decent hurdle around the $2.70 mark per MMBtu.
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