Natural Gas Futures: Look neutral bullish near-term

Considering preliminary readings from CME Group for Natural Gas futures markets, open interest reversed two consecutive daily pullbacks and went up by nearly 6K contracts on Thursday. Volume followed suit and rose by around 28.3K contracts, extending the erratic activity seen as of late.

Natural Gas keeps looking to $3.00

Prices of Natural Gas extended the consolidative theme and closed Thursday’s session with decent gains. The move was on the back of rising open interest, which is supportive of further gains in the very near-term. Against this, the $3.00 mark per MMBtu remains the key target on the upside.