Natural Gas Futures: Further range bound in the pipeline
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Considering advanced prints from CME Group for natural gas futures markets, traders added just 754 contracts to their open interest positions on Thursday, extending further the ongoing uptrend. Volume, instead, remained choppy and dropped by nearly 57K contracts.
Natural gas prices charted an inconclusive session on Thursday in tandem with a small uptick in open interest and diminishing volume. Against that, extra consolidation appears the most likely scenario for the commodity for the time being, with decent contention around the $3.50 mark per MMBtu.
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