Natural Gas Futures: Upside losing momentum?

Traders trimmed their open interest positions for the third session in a row at the beginning of the week, this time by almost 16K contracts in light of preliminary figures from CME Group. Volume, instead, went up by nearly 74K contracts after two daily pullbacks in a row.

Natural Gas stays limited by $3.80

Prices of natural gas keep navigating the vicinity of the key barrier at the $3.80 mark per MMBtu. Monday’s uptick was on the back of short covering, as noted by shrinking open interest. Against that, a correction lower could be shaping up in the very near term, with the initial support around the $3.60 mark ahead of $3.50.