- Analytics
- News and Tools
- Market News
- Crude Oil Futures: Room for extra losses
Crude Oil Futures: Room for extra losses
Considering advanced prints from CME Group for crude oil futures markets, open interest rose sharply by around 14.2K contracts on Tuesday. In the same line, volume reversed the previous pullback and went up by around 736.8K contracts, the largest single-day build since March 1.
WTI: Next on the downside comes the 200-day SMA
Prices of the barrel of the WTI shed nearly 9% in response to recession fears on Tuesday. The intense sell-off was in tandem with increasing open interest and volume and this is supportive of the continuation of the downtrend, at least in the very near term. That said, the next support of note emerges at the 200-day SMA, today at $93.37.
© 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
