Crude Oil Futures: Extra gains on the cards
|CME Group’s flash data for crude oil futures markets noted traders increased their open interest positions for the fourth consecutive session on Friday, this time by around 1.5K contracts. Volume, instead, remained erratic and went down by nearly 19K contracts.
WTI: Next on the upside comes $80.00 and above
WTI prices regained the smile on Friday after three daily pullbacks in a row. The rebound was amidst increasing open interest and leaves the room open to the continuation of this trend at least in the very near term. The immediate resistance for the commodity lines up at the key $80.00 mark per barrel.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.