Near-term rebound in the offing

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<p>Open interest in natural gas futures markets shrank for the second session in a row on Wednesday, this time by around 2.3K contracts according to preliminary readings from CME Group. Volume followed suit and dropped by nearly 111K contracts, resuming the recent downtrend.</p>
<h2>Natural Gas remains capped by $3.00</h2>
<p>Prices of <strong>natural gas</strong> extended the marked weekly pullback on Wednesday amidst shrinking open interest and volume, which is indicative that extra losses seem unlikely and opening the door to a potential short-term rebound instead. On the upside, the commodity remains capped by the key $3.00 region per MMBtu.</p>
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<br /><a href="https://www.fxstreet.com/news/natural-gas-futures-near-term-rebound-in-the-offing-202308170804">Source link </a></p><p>The post <a href="https://forextraderhub.com/near-term-rebound-in-the-offing.html">Near-term rebound in the offing</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>