Crude Oil Futures: Recovery has further legs to go

Pablo Piovano FXStreet

Traders increased their open interest positions once again on Thursday, this time by nearly 27.4K contracts according to preliminary figures from CME Group. In the same line, volume went up by around 156.4K contracts.

WTI eyes $20.00 and above

Prices of the barrel of the WTI advanced further on Thursday. The positive price action was on the back of rising open interest and volume, opening the door for the continuation of the rebound in the very near term. That said, the $20.00 mark per barrel emerges as the next key barrier in the short-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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