(VIANEWS) – Considering advanced prints from CME Group for natural gas futures market, open interest resumed the downtrend and shrank by more than 8K contracts on Thursday. On the other hand, volume rose by more than 63K contracts amidst the ongoing erratic performance.
FXStreet reported on the fact that thursday’s advance in prices of natural gas was on the back of shrinking open interest, which seems to indicate that the continuation of the recovery is not favoured in the very near term. In the meantime, occasional bullish attempts remain capped by the $3.00 mark per MMBtu.
Natural Gas (NG) has been up by 3.81% for the last 10 sessions. At 17:52 EST on Sunday, 27 August, Natural Gas (NG) is $2.55.
Volume
Today’s last reported volume for Natural Gas is 28159, 99.99% below its average volume of 4289723195.91.
Volatility
Natural Gas’s last week, last month’s, and last quarter’s current intraday variation average was a negative 0.52%, a negative 0.22%, and a positive 2.67%, respectively.
Natural Gas’s highest amplitude of average volatility was 2.48% (last week), 2.67% (last month), and 2.67% (last quarter), respectively.
Commodity Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, Natural Gas’s commodity is considered to be overbought (>=80).
Previous days news about Natural Gas (NG)
- Natural gas price analysis: xng/usd edges lower to $2.67, fades bounce off key support line. According to FXStreet on Friday, 25 August, “Even if the quote breaks the previous resistance line, the aforementioned multi-day-old rising trend line support of $2.58 appears a tough nut to crack for the Natural Gas bears.”, “On the flip side, a clear break of the 50-SMA level surrounding $2.71 becomes necessary for the Natural Gas Price to convince energy buyers.”
More news about Natural Gas (NG).
