Wed. Jun 7th, 2023

Fxtriangle | Market analysis | Managed trading

Fxtriangle will make Fx trading look easy.

Crude Oil Futures: rally picks up pace / WTI now targets $65.00

1 min read
CRUDE OIL

FILE PHOTO: Pump jacks operate at sunset in Midland, Texas, U.S., February 11, 2019. Picture taken February 11, 2019. REUTERS/Nick Oxford/File Photo

Crude oil futures markets noted open interest rose for yet another session on Friday, now by around 51.8K contracts, according to advanced data from CME Group. It is worth mentioning that the uptrend remains unaltered since December 24th. In the same line, volume increased for the sixth day in a row.

 

The WTI rally stays well and sound at the beginning of the week, with prices rising almost uninterruptedly since early December from the $55.00 region to levels just below $65.00 recorded earlier today. Rising open interest and volume support the idea of higher prices, with the $65.00 mark emerging as the next key barrier in the short-term horizon.

Leave a Reply

Forex trading and any instruments related to Foreign Exchange Market are Speculative and carry substantial risk of loss of either partial equity or the entire deposit amount. Leverage adds up to the risk, before considering to invest in this venture, you should first consider your financial position and may seek the help of an independent financial advisor. FXtriangle dis-recommends the usage of loan instruments to trade in this market as it can hamper financial position. Please do not invest the money that you cannot afford to lose. FXtriangle provides all its services throughout the Globe Excluding (Nigeria, British Virgin Island & the Islamic Republic of Iran) and also provides limited service in some jurisdictions where investment in Overseas markets / Fx Exchanges are prohibited by Law If you are not sure to contact us before using any of our services. FXtriangle acts as an Independent Corporate Financial Advisor and connects you to various overseas exchanges and cannot be held liable for any financial damage occurring through their side. All of our partnered institutions are regulated in various jurisdictions.FXtriangle conducts an independent background check before partnering with any institutions to fulfill your investment objectives smoothly. The usage of our Business name, Logo or any trademark in any financial forum, website, review website, complaint arena, Billboards without our written permission will attract lawsuits.