- Analytics
- News and Tools
- Market News
- Crude Oil Futures: Extra losses on the cards
Crude Oil Futures: Extra losses on the cards
CME Group’s flash data for crude oil futures markets noted traders added nearly 8.5K contracts to their open interest positions on Monday, extending the uptrend for the fourth session in a row. Volume followed suit and resumed the upside following the previous pullback, this time by around 196.8K contracts.
WTI: Next on the downside comes $88.00
The rally in crude oil prices seems to be taking a breather so far this week after hitting fresh cycle tops last Friday. Monday’s downtick was in tandem with rising open interest and volume, which is supportive of extra pullbacks in the very near term at least. Against this, the $88.00 region emerges as the next support of note in case of further decline in WTI.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
