Crude Oil Futures: Still scope for further correction By pabspiovano Oil Commodities Energy OpenInterest Futures
recording the fifth consecutive daily build. Volume, instead, partially reversed the previous drop and increased by nearly 164K contracts.added to the bearish mood seen at the beginning of the week on Tuesday. The corrective downside was in tandem with rising open interest, opening the door to potential further decline in the very near term. That said, the so far monthly low at $86.78 emerges as the next magnet for oil bears.
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