Crude Oil Futures: Extra gains not ruled out
|In light of preliminary figures from CME Group for Crude Oil futures markets, open interest shrunk for yet another session on Friday, this time by around 17.6K contracts. Volume, instead, went up markedly by around 224.6K contracts.
WTI could reach the 200-day SMA around $45.00
Prices of the West Texas Intermediate (WTI) edged higher at the end of last week amidst the persistent downtrend in open interest and choppy activity in volume. That said, while further gains seem to be losing momentum, a potential visit to the 200-day SMA in the $45.00 mark per barrel should not be discarded for the time being.
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