Crude Oil Futures: Further retracement loses momentum

CME Group’s preliminary readings for crude oil futures markets stated open hobby dropped for the 2nd straight session on Monday, this time by means of round 6.7K contracts. On the different hand, quantity reversed two each day drops in a row and went up by means of round 185.6K contracts.

WTI stays supported close to $65.00
Prices of the WTI temporarily dropped to sub-$66.00 degrees on Monday, simply to rebound quickly afterwards. The bad charge motion used to be amidst shrinking open interest, which is indicative that a deeper/sustained pullback seems out of favour. In the meantime, the $65.00 region emerges as a respectable competition for the time being.


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