Crude Oil Futures: Rally still looks upwards

Pablo Piovano FXStreet

Considering flash data from CME Group for crude oil futures markets, open interest resumed the uptrend on Tuesday and rose by around 6.5K contracts. Volume followed suit and went up for the second consecutive session, now by around 25.8K contracts.

WTI keeps targeting $74.00 and above

The rally in WTI remains well and sound and already surpassed the $70.00 mark per barrel. Tuesday’s uptick was amidst rising open interest and volume, indicative that extra gains remain in the pipeline for the time being. Against this, the next target of note remains at the late-July peaks above the $74.00 yardstick.

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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