Natural Gas Futures: Scope for extra gains

Considering advanced prints from CME Group for natural gas futures markets, open interest extended the uptrend and rose by around 20.5K contracts on Friday. Volume rose by around 12.7K contracts after two consecutive daily pullbacks.

Natural Gas appears supported near $2.00

Prices of natural gas charted a decent bounce on Friday against the backdrop of increasing open interest and volume. That said, the commodity could extend the recovery in the very near term, while a firm support still emerges just below the $2.00 mark per MMBtu (February 22).