Crude Oil Futures: A sustained deeper pullback is not favoured Oil Commodities Energy OpenInterest Futures
ive daily builds on Wednesday. On the flip side, volume rose for the second session in a row, this time by around 238.3K contracts.Wednesday’s marked retracement in prices of the barrel of thewas on the back of shrinking open interest, suggesting that a sustained move lower appears not favoured in the very near term. That said, the commodity could attempt a “technical” bounce in light of the current oversold condition. Immediate resistance levels appear at $70.
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