Crude Oil Futures: Gains remain on the table near-term

Pablo Piovano FXStreet

Open interest in crude oil futures markets reversed two consecutive pullbacks and went up by around 18.7K contracts on Tuesday in light of flash readings from CME Group. Volume, too, increased by nearly 270K contracts following two drop in a row.

WTI now targets the $30.00 mark/bbl

Prices of the barrel of WTI extended the rebound on Tuesday amidst rising open interest and volume, allowing the continuation of the uptrend with the next key target now at the $30.00 mark in the short-term horizon.

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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