Considering preliminary readings for natural gas futures markets, open interest shrank for the second consecutive session at the end of last week, this time by around 7.1K contracts. Volume followed suit and dropped by around 67.2K contracts.

Natural Gas now looks to $4.80

Friday’s downtick in prices of natural gas was accompanied by shrinking open interest and volume, indicative that further decline appears not favoured and opening the door at the same time to a near-term rebound. That said, the next target emerges a next week’s peak around the $4.80 mark per MMBtu.