Range Markets

CME Group’s flash data for crude oil futures markets rose by around 8.7K contracts following two consecutive daily pullbacks on Wednesday, while volume retreated for the second session in a row, this time by around 8.8K contracts.


Wednesday’s uptick in WTI was amidst rising open interest, opening the door to a potential continuation of the move in the very near-term. Against this, the immediate resistance is located at the monthly peaks just above the $43.00 mark per barrel (November 11).

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