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Crude oil futures are likely to fall further

 Last Update: 2023-03-13
 Source: Internet
 Author: User

Tags

oil market

ergon oil prices

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According to FXstreet on January 25, CME Group's crude oil futures market express showed that traders' open interest increased by nearly 22,000 on Monday, continuing recent volatile activity
.
Volume contracted for the second consecutive session, falling by about 66,600 contracts
.

The next support level for WTI crude oil is $80.
00 per barrel
.

On Monday, the correction in WTI crude oil prices continued
.
In addition, the decline coincides with the rise in open interest, which adds to additional losses
in the short term.
In this case, the price of $80.
00 per barrel should initially maintain a downtrend
in the short term.

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