Natural Gas Futures: Rebound could extend further

Considering advanced prints from CME Group for natural gas futures markets, open interest reversed three daily pullbacks in a row and went up by around 12.2K contracts at the beginning of the week. On the other hand, volume retreated for the second straight session, now by around 16.3K contracts.

Natural Gas appears supported near $3.80

Natural gas prices added to Friday’s gains on Monday along with rising open interest, which could see the ongoing rebound extending further in the very near term at least. The 200-day SMA around $4.10 caps the upside for the time being, while the $3.80 region per MMBtu emerges as a decent initial contention.