Crude Oil Futures: Recovery faces some headwinds near term
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level1)]
Open interest in crude oil futures extended the downtrend on Monday and dropped by around 3.9K contracts according to preliminary readings from CME Group. Volume, instead, increased by around 4.1K contracts after two consecutive daily pullbacks.
Monday’s decent gains in prices of the WTI were amidst shrinking open interest and a small increase in volume and is indicative that the continuation of the rebound seems out of favour in the very near term. That said, the price action around the commodity could face some near-term consolidation around the $70.00 region for the time being.
[/s2If]
Nehcap Expert Advisor
The NEHCAP MT4 EA is high quality professional trading system geared to generate returns without using GRID or martingales. Each trade has strict risk per trade parameter. The pairs under management include EURUSD, GBPUSD, AUDCAD, AUDNZD,GBPAUD, EURAUD, EURCAD, CHFJPY and many more.
The system is trading live: LIVE ACCOUNT TRACKING
You can run it free. Apply for a free trial and track our account. Buy the system or use profit share mechanism to generate returns on your MT4.
Join Our Telegram Group
