Oil May reverse at the actual resistance level

2022년 7월 19일

-OIL resistance level at the 100 MA that played resistance/ support level for the last 5 times.
Including fears of slowdown growth around the world which impact demand.
-CME Group’s flash data for crude oil futures markets noted traders scaled back their open interest positions by around 16.7K contracts on Friday, reversing two daily builds in a row at the same time. Volume followed suit and remained erratic, diminishing by around 289.5K contracts