Natural Gas Futures: Scope for extra upside

In light of advanced prints for Natural Gas futures markets from CME Group, open interest reversed five consecutive daily pullbacks and went up by around 2.5K contracts. In the same line, volume partially reversed Friday’s strong drop and went up by around 49.2K contracts.

Natural Gas now looks to $2.90

Natural Gas prices started the week on a firm note amidst rising open interest and volume. That said, extra gains look well on the cards in the very near-term with the next target of note at the March tops around the $2.90 mark per MMBtu.