Considering preliminary readings from CME Group for natural gas futures markets, open interest resumed the downside by nearly 6K contracts on Friday, partially reversing the previous build. In the same line, volume went down by around 97.3K contracts following three consecutive daily builds.

Natural Gas targets $5.00 and above

Friday’s knee-jerk in prices of natural gas was amidst shrinking open interest and volume, leaving the prospect for further downside somewhat diminished and opening the door to further rebound instead, with the immediate target at the $5.00 mark per MMBtu.