Crude Oil Futures: Further gains in the pipeline
|CME Group’s flash data for crude oil futures markets noted traders added around 14.5K contracts to their open interest positions on Friday. Volume followed suit and increased for the fourth straight session, this time by more than 130K contracts.
WTI: Immediate up barrier now emerges at $90.00
The rally in WTI seems to have met a solid initial resistance around the $85.00 mark per barrel. Friday’s gains in the commodity came in response to rising open interest and volume and leave the door open to the continuation of the current uptrend. Against that, the immediate target emerges at the round level of $90.00 per barrel.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.