Crude Oil Futures: Further rangebound on the cards

Pablo Piovano FXStreet

CME Group’s advanced prints for Crude Oil futures markets noted open interest dropped marginally by 446 contracts on Tuesday. In the same line, volume extended the downtrend for yet another session, this time by around 96.7K contracts.

WTI looks consolidative ahead of the OPEC+ meeting

Prices of the WTI edged lower on Tuesday amidst shrinking open interest and volume, leaving further declines unlikely and favouring instead the continuation of the consolidative mood around current levels in the very near-term.

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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