Rebound could be in the offing
Advanced prints from CME Group for natural gas futures markets showed open interest rose for the 5th consecutive session on Wednesday, now by around 7.2K contracts. On the other hand, volume resumed the downtrend and went down by around 77.4K contracts.
Natural Gas looks supported near $3.900
Prices of the natural gas halted the steep multi-session decline on Wednesday, rebounding decently above the $4.000 mark per MMBtu. The bounce was on the back of rising open interest, which could underpin further bullish attempts in the very near term.
