Crude Oil Futures: Further upside in the pipeline Oil Commodities Energy OpenInterest Futures
n Tuesday. Volume, instead, reversed two daily builds in a row and shrank by around 669.6K contracts.maintained the bid bias on Tuesday and added to the ongoing rally amidst rising open interest. The latter underpins the view that the commodity could extend the upside in the very near term, although the sharp decline in volume and the proximity of the overbought territory could spark some fresh selling. In the meantime, there is a firm hurdle at the 200-day SMA around $83.
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