Natural Gas Futures: Rebound likely near term

Considering advanced prints from CME Group for natural gas futures markets, open interest resumed the downtrend on Tuesday, this time shrinking by nearly 6K contracts. In the same line, volume dropped for the fourth straight day, this time by around 26.6K contracts.

Natural Gas looks underpinned around $7.50

Prices of natural gas dropped for yet another session on Tuesday amidst diminishing open interest and volume. That said, a deeper decline is not favoured and therefore the commodity could attempt a near term rebound. The $7.50 region, in the meantime, remains a tough support.