- July 27, 2020
- Posted by: Analysis Team
- Category: Forex News
CME Group’s advanced figures for Crude Oil futures markets noted investors added around 13.1K contracts to their open interest positions at the end of last week, reversing the previous drop. Volume, instead, extended the erratic performance and went down by nearly 77.7K contracts.
WTI: Further rangebound stays on the cards
The WTI is seen prolonging the side-lined theme around the $41.00 mark per barrel for the time being. Indeed, choppy activity in both open interest and volume is somehow supportive of the neutral trend, while the attempts of breaking this pattern should see the initial barrier at the 200-day SMA, today at $43.21.