Natural Gas Futures: Door open to extra gains
Considering advanced prints from CME Group for natural gas futures markets, open interest rose for the second consecutive session on Thursday, now by around 16.5K contracts. In the same direction, volume went up by more than 237K contracts, the largest single-day build since early February.
Natural Gas now targets the March top around $3.00
Prices of the natural gas rose sharply on Thursday and trespassed the 2.50% region amidst rising open interest and volume, which leaves the door open to the continuation of the weekly rebound in the very near term. Against that, the commodity could now embark on a potential move to the March high around the $3.00 mark per MMBtu (March 3).