Natural Gas Futures: Rebound in the offing?

CME Group’s preliminary readings for natural gas futures prices noted open interest shrunk for the first time since November 5, this time by around 2.4K contracts. Volume followed suit and partially reversed the previous build, dropping by around 281.5K contracts.

Natural Gas appears supported around $2.65

Prices of Natural Gas met support in the $2.65 mark per MMBtu on Tuesday amidst an inconclusive session and shrinking open interest and volume. That said, the 55-day SMA around the $2.65 mark emerged as a decent contention area for the time being.