Crude Oil Futures: Rebound in the offing? By pabspiovano Oil Commodities Energy OpenInterest Futures
dnesday, extending further the downtrend in place since June 7. Volume, instead, increased by around 113.2K contracts and partially reversed the previous pullback.retreated sharply and revisited the $101.00 region on Wednesday. The strong downtick was amidst shrinking open interest and hints at the idea that a deeper pullback is not favoured in the very near term. Against that, further downside in prices of the commodity should meet a tough support around the $100.00 neighbourhood.
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