Crude Oil Futures: Extra consolidation likely

Pablo Piovano FXStreet

CME Group’s flash data for Crude Oil futures markets noted traders scaled back their open interest positions by nearly 21K contracts on Monday. Volume, in the same line, shrunk for the third session in a row, this time by 15K contracts.

WTI remains directionless around $60.00

Prices of the West Texas Intermediate charted another inconclusive session on Monday amidst shrinking open interest and volume, leaving the consolidative mood unchanged for the time being. On the downside, the $57.50 mark continues to hold the downside.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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