COT Data Turns Bullish for Crude Oil
A new signal takes effect on the coming week's open of trading based on Friday's Commitments of Traders report from the Commodity Futures Trading Commission: bullish for crude oil.
That's based on the small traders getting significantly more bullish in their futures and options positioning as a percentage of the total open interest. My crude oil signal is based on following the small traders and fading the large speculators.
See my latest signals table for more details on the crude positioning and what traders are doing in the other nine markets I'm following using the CFTC's free weekly COT report data.
My other signals remain the same as last week: bullish for the S&P 500, BKX U.S. Bank Index, gold and silver.
To Canadian readers, have a Happy Canada Day weekend, and U.S. readers have a Happy July 4. Good luck next week.
See my latest signals table for more details on the crude positioning and what traders are doing in the other nine markets I'm following using the CFTC's free weekly COT report data.
My other signals remain the same as last week: bullish for the S&P 500, BKX U.S. Bank Index, gold and silver.
To Canadian readers, have a Happy Canada Day weekend, and U.S. readers have a Happy July 4. Good luck next week.