- Analytics
- News and Tools
- Market News
- Crude Oil Futures: Further consolidation appears likely
Crude Oil Futures: Further consolidation appears likely
CME Group’s flash data for crude oil futures markets noted traders added more than 2K contracts to their open interest positions at the beginning of the week, partially reversing the previous day’s drop. Volume, on the other hand, shrank for the third consecutive session, now by nearly 107K contracts.
WTI: A drop to $80.00 is not ruled out
Monday’s lack of direction in prices of the WTI was on the back of increasing open interest and declining volume, which supports the view that extra range bound seems the most likely scenario for the time being. The breakdown of this theme could leave WTI vulnerable to a test of the key $80.00 mark per barrel.
© 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
