Crude Oil Futures: Upside momentum looks unchanged
|In light of flash data from CME Group for Crude Oil futures markets, traders increased their open interest positions for the second consecutive session on Wednesday, this time by around 31.2K contracts. Volume, too, rose for the third straight session, now by around 247.8K contracts.
WTI flirts with the 200-day SMA
Prices of the WTI are now testing the key 200-day SMA above the $42.00 mark amidst rising open interest and volume, all supporting the view of the continuation of the gradual uptrend in the short-term horizon.
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