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COT-Crude Oil Specs Cut Longs for First Time in 4 Weeks

COT-Crude Oil Specs Cut Longs for First Time in 4 Weeks

Jamie Saettele, CMT, Sr. Technical Strategist
  • Smallest Euro short position (specs) since June
  • Copper speculators are still extremely long
  • Crude oil specs cut longs for 2nd time this year

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Check out the DailyFX trading guides and forecasts for ideas and education.

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 February 7, 2017

Week (Data for Tuesdays)

52 week Percentile

US Dollar

71

Euro

88

British Pound

51

Australian Dollar

47

Japanese Yen

16

Canadian Dollar

61

Swiss Franc

31

Mexican Peso

33

Gold

16

Silver

71

Copper

94

Crude

98

Charts (all charts are continuous contract)

Non Commercials (speculators) – Red

Commercials – Blue

Small Speculators – Black

COTDiff (COT Index) – Black

Volume-Red

US Dollar ICEUS Continuous Contract

COT-Crude Oil Specs Cut Longs for First Time in 4 Weeks

Chart prepared by Jamie Saettele, CMT

Euro CME Continuous Contract

COT-Crude Oil Specs Cut Longs for First Time in 4 Weeks

Chart prepared by Jamie Saettele, CMT

British Pound CME Continuous Contract

COT-Crude Oil Specs Cut Longs for First Time in 4 Weeks

Chart prepared by Jamie Saettele, CMT

Australian Dollar CME Continuous Contract

COT-Crude Oil Specs Cut Longs for First Time in 4 Weeks

Chart prepared by Jamie Saettele, CMT

Japanese Yen CME Continuous Contract

COT-Crude Oil Specs Cut Longs for First Time in 4 Weeks

Chart prepared by Jamie Saettele, CMT

Canadian Dollar CME Continuous Contract

COT-Crude Oil Specs Cut Longs for First Time in 4 Weeks

Chart prepared by Jamie Saettele, CMT

Swiss Franc CME Continuous Contract

COT-Crude Oil Specs Cut Longs for First Time in 4 Weeks

Chart prepared by Jamie Saettele, CMT

Mexican Peso CME Continuous Contract

COT-Crude Oil Specs Cut Longs for First Time in 4 Weeks

Chart prepared by Jamie Saettele, CMT

Gold COMEX Continuous Contract

COT-Crude Oil Specs Cut Longs for First Time in 4 Weeks

Chart prepared by Jamie Saettele, CMT

Silver COMEX Continuous Contract

COT-Crude Oil Specs Cut Longs for First Time in 4 Weeks

Chart prepared by Jamie Saettele, CMT

Copper COMEX Continuous Contract

COT-Crude Oil Specs Cut Longs for First Time in 4 Weeks

Chart prepared by Jamie Saettele, CMT

Crude Oil NYMEX Continuous Contract

COT-Crude Oil Specs Cut Longs for First Time in 4 Weeks

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.

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

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