Crude Oil Futures: Correction is overdue By pabspiovano Oil Commodities Energy OpenInterest Futures
the end of last week, now by nearly 12K contracts. Volume followed suit and shrank by around 135.5K contracts, reaching the third consecutive daily drop.further north on Friday. The move higher, however, was on the back of shrinking open interest and volume, opening the door to a near-term correction. This view is also reinforced by the extreme overbought condition of the commodity.
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