Crude Oil Futures: Further gains in the pipeline

CME Group’s flash data for crude oil futures markets noted traders added around 14.5K contracts to their open interest positions on Friday. Volume followed suit and increased for the fourth straight session, this time by more than 130K contracts.

WTI: Immediate up barrier now emerges at $90.00

The rally in WTI seems to have met a solid initial resistance around the $85.00 mark per barrel. Friday’s gains in the commodity came in response to rising open interest and volume and leave the door open to the continuation of the current uptrend. Against that, the immediate target emerges at the round level of $90.00 per barrel.