(VIANEWS) – Natural Gas (NG) is currently on bearish momentum. At 05:55 EST on Friday, 16 September, Natural Gas (NG) is at $8.05 and 3.24% down since the last session’s close.

Considering advanced prints from CME Group for natural gas futures markets, traders scaled back their open interest positions by around 7.3K contracts on Thursday. Volume reversed the previous build and shrank by around 45.7K contracts.

As reported by FXStreet, prices of natural gas fully faded Wednesday’s intense advance on Thursday on the back of diminishing open interest and volume. Against that, the continuation of the leg lower appears unlikely in the very near term. In the meantime, the $7.50 mark per MMBtu remains a decent support for the time being.

Volume

Today’s last reported volume for Natural Gas is 4813, 99.99% below its average volume of 6133931597.76.

Natural Gas Range

About Natural Gas’s daily highs and lows, it’s 2.257% down from its trailing 24 hours low of $8.24 and 3.081% down from its trailing 24 hours high of $8.31.

Volatility

Natural Gas’s last week, last month’s, and last quarter’s current intraday variation average was 4.77%, 0.35%, and 3.52%, respectively.

Natural Gas’s highest amplitude of average volatility was 4.77% (last week), 2.68% (last month), and 3.52% (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 oversold (<=20).

More news about Natural Gas (NG).

LEAVE A REPLY

Please enter your comment!
Please enter your name here