#wtioilrisesasopeninterestshrinks
š¢ļø WTI oil prices rise while open interest falls? Magic? Sorcery?
Some say itās the Strait of Hormuz, because ship movement there has dropped to single digits. Literally, fewer boats than the number of my remaining brain cells after a borrowing deal! š¤Æ
With differing estimates for oil volume from one side to another, some traders disappear from the market (open interest OI melts away!), yet the price continues to climb.
What should traders do?
1ļøā£ Donāt buy panicābarrels of oil for your backyard.
2ļøā£ Watch the charts, not just the drama.
3ļøā£ Lock in your rewards!
DYOR. This is not financial advice!
Follow-up, please
#OilTrading #WTI #HormuzStrait
$CL
š¢ļø WTI oil prices rise while open interest falls? Magic? Sorcery?
Some say itās the Strait of Hormuz, because ship movement there has dropped to single digits. Literally, fewer boats than the number of my remaining brain cells after a borrowing deal! š¤Æ
With differing estimates for oil volume from one side to another, some traders disappear from the market (open interest OI melts away!), yet the price continues to climb.
What should traders do?
1ļøā£ Donāt buy panicābarrels of oil for your backyard.
2ļøā£ Watch the charts, not just the drama.
3ļøā£ Lock in your rewards!
DYOR. This is not financial advice!
Follow-up, please
#OilTrading #WTI #HormuzStrait
$CL
