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Crude Oil Skyrockets Off Iranian Rockets - WTI Commentary 10/1/24
The Nov WTI trading session settled at 69.83(+1.66) [+2.44%], had a high of 71.94, a low of 66.33. Cash price is at 68.14(+0.01), while open interest for CLX24 is at 318,997. CLX settled above its 5 day (68.71), its 20 day (68.80), ((Crude broke through to the upside on it’s 5 and 20 day MA)), but below it’s 50 day (71.94), and its 200 day (74.87) moving-averages. The COT report (Futures and Options Summary) as of 9/27 showed commercials with a net short position of -209,236 (a increase in short positions by 10,199 compared to last week) to non-commercials who are net long 191,109 (a increase in long positions by ... (full story)
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- Posted: Oct 1, 2024 9:08pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 105
