Crude Oil Futures: Extra gains in store

Pablo Piovano FXStreet

Considering advanced prints from CME Group for crude oil futures markets, open interest increased for the third straight session on Thursday, now by around 1.3K contracts. Volume, instead, reversed two consecutive daily gains and went down by around 169.2K contracts.

WTI: Next on the upside emerges $75.00

Thursday’s bounce in prices of WTI was on the back of a small build in open interest, suggesting that potential gains appear in the pipeline in the very near term. Against that, the next up-barrier of note comes at the recent tops near the $75.00 mark per barrel (May 24).

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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