Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View More
Crude Oil Bulls Exit, Copper and Silver Downtrend Persist - COT Report

Crude Oil Bulls Exit, Copper and Silver Downtrend Persist - COT Report

Justin McQueen,

COT Report: Analysis and Talking Points

  • Speculators Head for Exit in Bullish Oil Bets
  • Gold Longs Edging Higher Yet Again
  • Copper and Silver Downtrend Persists

The Predictive Power of the CoT Report

Oil: Hedge funds have continued to exit their bullish positioning in the Brent crude oil with net longs dropping by a sizeable 40k lots amid the capitulation in oil prices throughout May. Consequently, the ratio of long/short positioning has almost halved from over 2 weeks ago to 8:1 (Prev. 15:1) with risks of a further liquidation of long Brent positioning on the horizon.

Gold / Silver: The ongoing trade war uncertainty has seen investors remain bullish on the safe-haven gold with net longs rising 8.7k lots to 33k lots. While the downtrend in silver shows little signs of abating as bearish bets rise to highest level since October 2018.

Copper: Bearish sentiment on copper persists with speculative gross shorts hovering around the 2019 (88k) and 2018 (87.9k) peaks as tensions between the US and China continue to escalate.


AUDUSD Sentiment Most Bearish Since 2015, GBPUSD Shorts Soar


--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at

Follow Justin on Twitter @JMcQueenFX

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