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COT-Copper Traders Lose their Minds

COT-Copper Traders Lose their Minds

2016-11-21 17:35:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:
  • 52 week position extreme for copper
  • Significant buying by specs and selling by hedgers in copper
  • BUT - record positioning was reached in 2003; at START of major bull move

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The COT Index is the difference between net speculative positioning and net commercial positioning measured. A blue colored bar indicates that the difference in positioning is the greatest it has been in 52 weeks (bullish) with speculators selling and commercials buying. A red colored bar indicates that the difference in positioning is the greatest it has been in 52 weeks (bearish) with speculators buying and commercials selling. Non-commercials tend to be on the wrong side at the turn and commercials the correct side. Use of the index is covered closely in detail in my book.

Latest CFTC Release dated November 15, 2016

Week (Data for Tuesdays)

52 week Percentile

US Dollar

88

Euro

26

British Pound

31

Australian Dollar

84

Japanese Yen

14

Canadian Dollar

33

Swiss Franc

6

Mexican Peso

69

Gold

33

Silver

53

Copper

100

Crude

37

Charts (all charts are continuous contract)

Non Commercials (speculators) – Red

Commercials – Blue

Small Speculators – Black

COTDiff (COT Index) – Black

US Dollar ICEUS Continuous Contract

COT-Copper Traders Lose their Minds

Chart prepared by Jamie Saettele, CMT

Euro CME Continuous Contract

COT-Copper Traders Lose their Minds

Chart prepared by Jamie Saettele, CMT

British Pound CME Continuous Contract

COT-Copper Traders Lose their Minds

Chart prepared by Jamie Saettele, CMT

Australian DollarCME Continuous Contract

COT-Copper Traders Lose their Minds

Chart prepared by Jamie Saettele, CMT

Japanese YenCME Continuous Contract

COT-Copper Traders Lose their Minds

Chart prepared by Jamie Saettele, CMT

Canadian DollarCME Continuous Contract

COT-Copper Traders Lose their Minds

Chart prepared by Jamie Saettele, CMT

Swiss Franc CME Continuous Contract

COT-Copper Traders Lose their Minds

Chart prepared by Jamie Saettele, CMT

Mexican Peso CME Continuous Contract

COT-Copper Traders Lose their Minds

Chart prepared by Jamie Saettele, CMT

Gold COMEX Continuous Contract

COT-Copper Traders Lose their Minds

Chart prepared by Jamie Saettele, CMT

Silver COMEX Continuous Contract

COT-Copper Traders Lose their Minds

Chart prepared by Jamie Saettele, CMT

Copper COMEX Continuous Contract

COT-Copper Traders Lose their Minds

Chart prepared by Jamie Saettele, CMT

Crude Oil NYMEX Continuous Contract

COT-Copper Traders Lose their Minds

Chart prepared by Jamie Saettele, CMT

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie e-mail jsaettele@dailyfx.com. Follow him on Twitter @JamieSaettele.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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