(VIANEWS) – CME Group flash data on crude oil futures markets shows that open interest returned to the downside, shrinking by almost 8K contracts Tuesday. Volume, however, rose sharply to 266.5K, and is still choppy for another session.
FXStreet reports that Tuesday’s strong retracement of WTI barrel prices was accompanied with a decrease in open interest. This leaves little hope for a deep correction. Crude oil prices are still supported at $85.00 per barrel, near their August lows.
Crude Oil (CL) is currently on bearish momentum. At the time this is being written, on Wednesday, 31 August, Crude Oil (CL) is at $88.90 and 2.99% down since the last session’s close.
Today’s last reported volume for Crude Oil is 63590, 99.99% below its average volume of 24626393995.25.
Crude Oil Range
Concerning Crude Oil’s daily highs and lows, it’s 3.222% down from its trailing 24 hours low of $91.86 and 4.058% down from its trailing 24 hours high of $92.66.
Crude Oil’s last week, last month’s, and last quarter’s current intraday variation average was a positive 0.67%, a negative 0.33%, and a positive 2.02%, respectively.
Crude Oil’s highest amplitude of average volatility was 1.66% (last week), 1.86% (last month), and 2.02% (last quarter), respectively.
Commodity Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, Crude Oil’s commodity is considered to be oversold (<=20).
Last news about Crude Oil (CL)
- WTI crude oil forecast: has a confusing Friday – 29 August 2022. According to DailyForex on Monday, 29 August, “The West Texas Intermediate Crude Oil market has gone back and forth during the day on Friday, showing signs of hesitation and confusion. “
More news about Crude Oil (CL).