Considering advanced prints from CME Group for natural gas futures markets, open interest shrank for the second session in a row on Tuesday, this time
by around 2.5K contracts. On the other hand, volume added around 89.2K contracts to the previous daily build.prices extended the weekly recovery on Tuesday, flirting at the same time with the key 200-day SMA near the $2.90 region. The uptick was on the back of shrinking open interest and is indicative that a potential knee-jerk could be in the offing in the very near term. In the meantime, the $3.00 region per MMBtu remains a key resistance area for the time being.
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