Natural Gas Futures: Extra gains lack conviction

Investors trimmed their open interest positions for the fourth consecutive session on Tuesday, now by nearly 20K contracts in light of preliminary readings from CME Group. Volume, instead, reversed two drops in a row and rose by almost 34K contracts.

Natural Gas points to further consolidation near-term

Tuesday’s uptick in prices of Natural Gas was amidst diminishing open interest, supporting the idea that extra gains appear limited and instead the commodity could move into a consolidative phase in the very near-term.