CME Group’s preliminary readings for Crude Oil futures markets noted both open interest and volume went down by almost 45K contracts and around 171.2K contracts, respectively, on Friday.
WTI faces strong hurdle at $60.00
The recent recovery in prices of the barrel of WTI appears to be under the microscope amidst shrinking open interest and volume, noting the presence of short covering behind the upside and thus hinting at a probable correction lower in the short-term horizon.
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