- October 29, 2020
- Posted by: Analysis Team
- Category: Forex News
CME Group’s preliminary readings for Crude Oil future markets noted open interest extended the choppy activity and rose by just 831 contracts on Wednesday. In the same line, volume reversed the previous drop and rose by around 374K contracts.
WTI NOW LOOKS TO $36.00/BBL
Prices of the barrel of the West Texas Intermediate dropped to fresh lows amidst rising open interest and volume on Wednesday. That said, the door remains open for the continuation of the downtrend in the very near-term with initial target at the September lows in the $36.00 region.