Natural Gas Futures: Extra Upside Favoured Near Term: (NG) Is 4% Up In The Last 5 Sessions

(VIANEWS) - Considering advanced prints from CME Group for natural gas futures markets, open interest rose by around 7.7K contracts at the end of last week, keeping the choppy activity well in place for yet another session. Volume, on the other hand, shrank markedly by around 166.4K contracts against the backdrop of persistent choppiness, FXStreet has confirmed that friday's decent gains in prices of natural gas were accompanied by rising open interest, leaving the door open to the continuation of the recovery in the very near term at least. That said, bulls face an initial hurdle at the weekly high of $2.86 (August 15) prior to the key resistance area around the $3.00 mark per MMBtu. Natural Gas (NG) has been up by 4.43% for the last 5 sessions. At 14:51 EST on Monday, 28 August, Natural Gas (NG) is $2.59.

Natural gas price analysis: xng/usd sits near two-week high; technical setup favours bulls

Moreover, technical indicators on the daily chart have just started moving in positive territory and suggest that the path of least resistance for the Natural Gas price is to the upside.

Natural gas set for increased volatility as Australian unions lose control on strikes

Seeing the current cocktail of supply drought, Natural Gas prices could jump to $3.25 if the current sentiment and the news flow keeps contributing to higher prices., On the upside, $3 is still the level to watch once Natural Gas prices can reclaim $2.9.

Volume

Today's last reported volume for Natural Gas is 43070, 99.99% below its average volume of 4255901521.44.

Volatility

Natural Gas's last week, last month's, and last quarter's current intraday variation average was a negative 1.47%, a negative 0.04%, and a positive 2.48%, respectively. Natural Gas's highest amplitude of average volatility was 1.91% (last week), 2.21% (last month), and 2.48% (last quarter), respectively. More news about Natural Gas (NG).