Crude Continued Consolidation

Crude Oil futures have had a very volatile start to the year with prices pushing above the 200-day moving average and falling back down to that level after testing the highs from May. The Crude Inventories Report released today showed a higher than expected print at 3.463M while forecasting 2.200M, which is the 5th consecutive report of worse than expected figures. Prices now are looking to re-test the 200-day moving average and traders may watch this figure to act as a catalyst either up or down for near term price action.

The Crude Oil contracts range from the full sized contract at 1,000 barrels, the mini contract at 500 barrels, and the micro contract at 100 barrels giving traders the ability to choose a smaller or larger size based on their own risk tolerance. Looking at the large swings in the chart over a few week period, traders can see how wide the market swings back and forth. Having the ability to choose your size can help traders with entry, exit, and overall execution planning.

If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs tradingview.com/cme/

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**All examples in this report are hypothetical interpretations of situations and are used for explanation purposes only. The views in this report reflect solely those of the author and not necessarily those of CME Group or its affiliated institutions. This report and the information herein should not be considered investment advice or the results of actual market experience.