Natural Gas Futures: Pullbacks look contained

CME Group’s advanced readings for natural gas futures markets noted open interest dropped for the second session in a row on Wednesday, this time by just 188 contracts. In the same line, volume resumed the downside following the previous daily build and shrank by nearly 63K contracts.

Natural Gas looks supported near $3.50

Prices of natural gas briefly approached the $3.50 mark per MMBtu on Wednesday, just to rebound afterwards. The negative price action was in tandem with declining open interest and volume, opening the door to the continuation of the rebound in the very near term.