Crude Oil Futures: Upside appears limited

Pablo Piovano FXStreet

Open interest in crude oil futures markets shrunk by around 47.4K contracts on Thursday in light of flash data from CME Group. In the same line, volume went down for the second day in a row, this time by around 77.8K contracts.

WTI faces strong resistance at $30.00/bbl

Prices of the WTI climbed to multi-week highs in the $28.00 area per barrel on Thursday. However, shrinking open interest and volume noted the presence of short covering behind the move. That said, further upside could be losing traction while there is a tough resistance in the $30.00 mark.

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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.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.