Crude Oil Futures: Further upside on the cards
CME Group’s preliminary figures for Crude Oil futures markets noted traders increased their open interest positions by around 30.3K contracts on Tuesday, reaching the largest single-day build since July 14. In the same line, volume went up for the second session in a row, now by more than 259K contracts.
WTI approaches the 200-day SMA
Prices of the West Texas Intermediate surpassed and closed above the $41.00 mark per barrel on Tuesday. The positive performance was accompanied by rising open interest and volume, leaving the door open for extra gains in the near-term. Against this, the initial hurdle emerges at the 200-day SMA, today at $42.73.
Reprinted from FXStreet，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
-THE END-