Crude Oil Futures: Room for a correction lower

Pablo Piovano FXStreet

Traders added nearly 18.5K contracts to their open interest positions in Crude Oil futures markets, as per advanced data from CME Group. On the flip side, volume shrunk for the second session in a row, this time by almost 653K contracts.

WTI: Back to the $20.00s?

The negative start of the week in prices of the West Texas Intermediate was in tandem with rising open interest, opening the door to a deeper retracement, which could initially target the key $20.00 neighbourhood per barrel.

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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