Natural Gas Futures: Scope for a deeper correction

Open interest in natural gas futures markets resumed the uptrend and rose by nearly 11K contracts at the beginning of the week according to preliminary readings from CME Group. In the same line, volume advanced for the second session in a row, this time by around 24.1K contracts.

Natural Gas now targets $6.00

Natural gas started the new month on the defensive amidst rising open interest and volume, exposing further weakness in the very near term and with a potential drop to the $6.00 mark per MMBtu now on the cards.