Crude Oil Futures: Rally ready to resume
|Considering preliminary readings from CME Group for crude oil futures markets, traders added nearly 2K contracts to their open interest positions on Monday, reaching the fourth consecutive daily build. In the same line, volume went up by around 103.3K contracts, partially reversing the previous daily drop.
WTI sets sails to $100.00 and above
Monday’s moderate advance in prices of the barrel of WTI was accompanied by rising open interest and volume, which opens the door to the continuation of the uptrend in the very near term. That said, the next target of note initially comes at the triple-digit barrier seconded by the YTD high at $100.50 (February 24).
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.