(VIANEWS) – CME Group preliminary data shows that open interest in natural gas futures markets rose to 7.8K contract after two consecutive drops at the start of the week. The volume followed the trend and increased by nearly 15K contracts.
FXStreet reports that natural gas prices reached new highs on Monday at $4.20 per MMBtu YTD. The session ended around 4.10 afterward. The rising volume and open interest in natural gas makes it more likely that prices will rise further, but the commodities’ persistently overbought state calls for corrections soon.
Natural Gas (NG) is currently on bearish momentum. At 09:04 EST on Tuesday, 27 July, Natural Gas (NG) is at $4.04 and 1.61% down since the last session’s close.
Today’s last reported volume for Natural Gas is 6409, 100% below its average volume of 24953023962.63.
Natural Gas Range
About Natural Gas’s daily highs and lows, it’s 1.417% down from its trailing 24 hours low of $4.09 and 1.681% down from its trailing 24 hours high of $4.11.
Natural Gas’s last week, last month’s, and last quarter’s current volatility was 1.53%, 0.83%, and 1.41%, respectively.
Natural Gas’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 1.53% (last week), 1.46% (last month), and 1.41% (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=f).