- Analytics
- News and Tools
- Market News
- Crude Oil Futures: Door open to extra retracement
Crude Oil Futures: Door open to extra retracement
CME Group’s flash data for crude oil futures markets noted traders added around 14.3K contracts to their open interest positions at the beginning of the week, extending the uptrend in place since January 20. Volume, instead, reversed two consecutive daily builds and went down by around 147.6K contracts.
WTI now targets $72.50
Prices of the WTI added to the previous decline on Monday against the backdrop of increasing open interest. That said, the continuation of the downtrend appears on the cards and targets the so far 2023 low at $72.50 per barrel (January 5).
© 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
