Crude Oil Futures: Further rebound looks unlikely
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE 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_level4)]
CME Group’s flash data for crude oil futures markets noted traders trimmed their open interest positions for the third session in a row on Wednesday, this time by around 6.4K contracts. Volume, instead, increased for the second consecutive day, now by more than 150K contracts.
Wednesday’s advance in prices of the WTI was on the back of shrinking open interest, which hints at the view tha extra recovery seems not favoured in the very near term. In the meantime, the monthly high at $90.37 (September 5) emerges as the next target of note for bulls.
[/s2If]
Join Our Telegram Group
