Natural Gas Futures: Corrective downside in the offing?

Open interest in natural gas futures markets went down for the third session in a row on Tuesday, now by around 2.3K contracts, in light of advanced data from CME Group. Volume, in the same direction, rose for the second straight session, now by around 26.3K contracts.

Natural Gas keeps looking to $3.00/MMBtu

Prices of natural gas briefly tested the $3.00 area on Tuesday, although it closed the day with small losses. The move was amidst rising open interest and volume, allowing for some near-term correction. The key $3.00 mark per MMBtu still emerges as a key resistance level for the time being.