Natural Gas Futures: Downside looks limited near-term

Considering advanced readings from CME Group for Natural Gas futures markets, both open interest and volume shrunk on Tuesday, this time by nearly 16K contracts and by around 217.5K contracts, respectively.

Natural Gas appears supported around $2.88

Natural Gas prices came under some downside pressure following a move to recent tops above the key $3.00 mark per MMBtu. The downtick was on the back of diminishing open interest and volume, hinting at the idea that further decline appears unlikely in the very near-term. Against this,  decent support emerges around the $2.88 region for the time being.