- Analytics
- News and Tools
- Market News
- Crude Oil Futures: Green light to further pullback
Crude Oil Futures: Green light to further pullback
CME Group’s flash data for crude oil futures markets noted traders increased their open interest positions by around 28.8K contracts on Wednesday after four straight daily drops. Volume followed suit and went up by around 12.7K contracts, extending the ongoing choppiness.
WTI risks a probable decline to the YTD low
Wednesday’s strong retracement in prices of the WTI came amidst rising open interest and volume and is suggestive that extra weakness could emerge on the horizon in the very near term. Against that, the next support level of relevance is seen at the 2023 low at $72.30 per barrel (February 6).
© 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
