WTI crude oil tests $62 support amid bullish positioning
pre-market1 source ↓written by the desknot a recommendation
- as traders increase
- $62
- net-long
- 121.9k contracts
- managers
- 76.8k contracts
- is decisively breached
- $60
WTI crude oil futures are testing key support near $62 as traders increase net-long positions to six-month highs. Large speculators hold 121.9k contracts net-long, while asset managers are at 76.8k contracts. Despite signals of a near-term correction, pullbacks may be limited unless $60 is decisively breached.
Not investment advice. For informational purposes only.