Crude Oil Futures: Further downside on the cards

Traders increased their open interest positions by more than 6K contracts at the end of last week, in light of preliminary figures from CME Group. Volume, too, went up by almost 45.8K contracts.

WTI faces the next support at $36.00

The continuation of the correction lower in prices of the barrel of WTI is expected to persist against the backdrop of increasing open interest and volume. That said, the next target emerges at the 100-day SMA in the $36.00 area.