Considering advanced prints from CME Group for natural gas futures markets, open interest resumed the upside and went up by around 5.7K contracts following the previous daily pullback. Volume followed suit and increased by around 68.8K contracts after two daily drops in a row.
Natural Gas faces immediate resistance at the June high
Prices of natural gas rose to 3-day tops past the $2.60 mark on Tuesday. The daily uptick was on the back of increasing open interest and volume and leaves the door open to further upside in the very near term. So far, the June’s peak near the $2.90 per MMBtu is expected to emerge as the next up-barrier of note.
Source: https://www.fxstreet.com/news/natural-gas-futures-room-for-extra-advance-near-term-202307190716