- Analytics
- News and Tools
- Market News
- Crude Oil Futures: Rally looks exhausted
Crude Oil Futures: Rally looks exhausted
CME Group’s flash data for crude oil futures markets noted traders scaled back their open interest positions by around 19.5K contracts on Monday after six daily advances in a row. On the other hand, volume rose for the second consecutive day, this time by nearly 48K contracts.
WTI faces decent resistance around $88.00
WTI prices charted an inconclusive session following a move to new 2023 tops just past the $88.00 mark per barrel on Monday. The marginal uptick, however, was amidst shrinking open interest, which is indicative that extra advances might not be favoured for the time being. In the meantime, the $88.00 region emerges as a firm hurdle for bulls for the time being.
© 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
