Crude Oil Futures: Scope for further downside
…
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 by around 9.6K contracts on Monday, reaching the fourth consecutive daily drop. In the same line, volume dropped for the third straight day, this time by around 124.1K contracts.
Prices of the barrel of the WTI advanced marginally at the beginning of the week against the backdrop of diminishing open interest and volume. That said, a sustained rebound appears not favoured for the time being, leaving a potential visit to the $80.00 region on the table instead.
[/s2If]
Join Our Telegram Group
