Crude Oil Futures: Upside momentum looks solid

Pablo Piovano FXStreet

CME Group’s advanced readings for crude oil futures markets noted traders added 8.6K contracts to their open interest positions on Tuesday, reversing the previous drop. Volume, instead, went down for the second straight session, now by just 567 contracts.

WTI on its way to… $60.00?

Prices of the WTI reversed Monday’s pullback and edged higher on Tuesday. The move was accompanied by increasing open interest and hints at extra gains in the very near-term. Against this, the $60.00 mark per barrel already emerges on the 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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