Natural Gas Futures: Rebound has further legs to go

Considering preliminary readings from CME Group for natural gas futures markets, open interest rose by around 9.4K contracts after two consecutive daily pullbacks on Thursday. Volume followed suit and increased by nearly 19K contracts, reaching the third daily build in a row.

Natural Gas now targets $5.20

Thursday’s uptick in prices of natural gas tested the key $5.00 mark along with rising open interest and volume. Against that, further upside remains on the cards with the next target at the monthly highs around $5.20 (March 7).