InvestMacro

Article By RoboForex.com

EUR USD, “Euro vs US Dollar”

The EUR/USD pair has broken the low of the first descending impulse. We think, today the price may continue consolidating around 1.2020. According to the main scenario, the instrument may fall towards 1.1976 and then grow to return to 1.2020. Later, in our opinion, the market may move downwards to reach the first target at 1.1930.

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair has completed the first descending impulse and right now is consolidating near the lows. Possibly, the price may be corrected towards 1.3555 and then resume falling with the first target at 1.3424.

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair has reached the first target of the ascending structure. Possibly, today the price may start another correction towards 0.9742. After that, the instrument may start another growth to reach the second target at 0.9840.

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is trading upwards to reach 112.84. Later, in our opinion, the market may be corrected towards 112.47 and then grow to reach 113.30.

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is still moving upwards; right now, it is consolidating at the top. According to the main scenario, the price may break this range to the downside to reach the first target at 0.7755.

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is trading to break the consolidation range downwards. The next downside target is at 56.80. After that, the instrument may grow towards 57.35 and then falling to reach 56.55.

Later, in our opinion, the market may resume moving downwards with the first target at 1300.

BRENT

Brent is still moving upwards; it has completed a half of another ascending structure. Possibly, today the price may consolidate at the current levels and be corrected towards 67.00. According to the main scenario, the market may continue growing inside the uptrend to reach the local target at 70.70.

RoboForex Analytical Department

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

By Chris Vermeulen, TheTechnicalTraders.com

Last week, we posted our research showing that the US markets were setting up for a 2018 Q1 rally based on our research using our advanced predictive analysis modeling tools – the Adaptive Dynamic Learning model.  This model attempts to find unique price, technical and indicator patterns in past price bars and then attempts to find similar patterns in newer price bars.  When multiple price bars with similar pattern structures are found, it maps these as “unique genomic structures” and attempt to learn from the future price activities.  This unique modeling system was created by our team of skilled market researchers in an attempt to provide accurate insight into the markets future price swings.

In doing so, our predictive analysis modeling systems can attempt to tell us what is the highest likelihood of price activity going out 10, 15 and even 20 daily bars into the future. The forecasted highs and lows you should focus on are the yellow lines. The closer together these yellow lines are (predicted high/predicted low, the more confident we can be that prices should follow this path.  The farther apart they are, the more likely we will see increased volatility and the potential for larger swings in price range.

The article we posted last week was titled “2018 First Quarter Rally” for your reference.

As of this week, only a few days into the new 2018 trading year, the US markets are already up between 1~2.5% and likely have another 1~3% more upside activity before finding any resistance.  Let’s take a look at some charts.

This Weekly chart of the Nasdaq (NQ) clearly shows the expected future price levels and ranges going out nearly three months into the future.  You can see from this chart that the YELLOW LINES are predicting generally higher price levels through the end of February 2018 when a sudden price consolidation is expected.  This will likely result in a 2~5% price decline sometime between February 21 and March 26, 2018.  After this brief rotation, the Adaptive Dynamic Learning modeling system is predicting further price advancements in the range of 2~3% or more before stalling again in late April 2018. So pay attention, any lows in the NQ below 6485 are likely very strong BUY TRIGGERS.

Now, let’s take a look at the SPY on a Weekly basis.

The SPY chart is more uniform in structure and alignment with the ADL predictive modeling system.  This tells us that the price volatility for this symbol will be more muted than the NQ Futures chart.  It also tells us that we may not see the same level of volatility enter the SPY till after January 22, 2018 – which is when the first real measurable divergence in predictive price levels happens.

The first measurable rally in the SPY in 2018 should be about 2.5~3% from 2017 closing price levels and end near February 12^th or so.  This move will be followed by a very short downside price correction of about -1~2% ending near March 10th~16^th.  The next leg higher could be relatively large with a 3~5% rally through the end of April 2018.

We are predicting that this first Quarter in 2018 will see a continued market rally with a brief pause/stall in price near the end of February or early March.  We believe the Q1 final results will be the  NQ ending 3~5% higher than the 2017 closing price and the SPY ending 5~6% higher than the 2017 closing price.  Are you ready for this move?  Do you know which stock or ETF you should trade for maximum return? We can help you!

So far, our predictions about 2018 have been very accurate with this modeling system and you should be able to see the value of “being able to see into the future” with our various forecasting modeling system. Our team of researchers and professionals at Technical Traders Ltd. are here to assist you in finding and executing profitable trades each week with our unique research, modeling tools and trade alerts.  Imagine how much more successful 2018 would be for you if you knew what the rest of the year would look like?

Visit www.TheTechnicalTraders.com to learn how we can assist you in finding and executing successful strategies during the next two years as the major trends start to shift and new strategies will be required to profit from elevated volatility and falling prices.  Join today and make 2018 one of your best trading years yet.

Chris Vermeulen

Article By RoboForex.com

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is trading at 0.7847; the instrument is still moving above Ichimoku Cloud, which means that it may continue growing. We should expect the price to test Tenkan-Sen and Kijun-Sen at 0.7830 and then continue moving upwards to reach 0.7930. However, the scenario that Implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 0.7725. In this case, the pair may continue falling towards 0.7670.

NZD USD, “New Zealand Dollar vs US Dollar”

The NZD/USD pair is trading at 0.7117; the instrument is still moving above Ichimoku Cloud, which means that it may continue growing. We should expect the price to test Tenkan-Sen and Kijun-Sen at 0.7095 and then continue moving upwards to reach 0.7190. However, the scenario that implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 0.7020. In this case, the pair may continue falling towards 0.6955.

USD CAD, “US Dollar vs Canadian Dollar”

The USD/CAD pair is trading at 1.2522; the instrument is still moving below Ichimoku Cloud, which means that it may continue falling. We should expect the price to test Tenkan-Sen and Kijun-Sen at 1.2535 and then continue moving downwards to reach 1.2390. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 1.2710. In this case, the pair may continue growing towards 1.2840.

RoboForex Analytical Department

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

By Chris Vermuelen, thetechnicaltraders.com

The past week our forecasts have been dead on in terms of timing intraday tops, bottoms, along with oversold levels.

The 30-minute chart of the SP500 index shows the two gap fills, oversold buying zones, and our recent forecast yesterday afternoon which was for a continued rally. Everything has played out as expected thus far.

Subscribers of our Technical Trading Wealth Building Newsletter have already taken profits on our first trade of the year with QQQ. This trade setup was a no-brainer as it had multiple technical reasons to get long for an imminent pop/rally. Below is the recent trade issued to our group of traders.

As you can see in the QQQ chart below the market gave us an oversold condition which we entered long the next trading session and have now taken partial profits for quick and easy money.

If you want to make the most of out of 2018 with your trading and long-term investment positions join our Wealth Building Trading Newsletter Today – CLICK HERE

By www.thetechnicaltraders.com

Article By RoboForex.com

GBP USD, “Great Britain Pound vs US Dollar”

At the H4 chart, the GBP/USD pair stopped consolidating and formed a new ascending impulse. After breaking the high, the price started moving towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.3645 and 1.3702 respectively. Right now, the instrument may start a short-term pullback towards 1.3549. The main support level for the current uptrend is at 1.3301. One should also pay attention to the divergence.

As we can see at the H1 chart, the pair is moving inside the uptrend. Probably, after reaching its targets, the price may start another correction. The main targets of this correction are the retracements of 38.2% and 50.0% at 1.3561 and 1.3516 respectively.

EUR JPY, “Euro vs. Japanese Yen”

As we can see at the H4 chart, the EUR/JPY pair has formed a new ascending impulse. The current movement is heading towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 135.76 and 136.56 respectively. One should also pay attention to the divergence, which may indicate a possible correction towards 134.49.

At the H1 chart, the situation is similar and confirms the scenario described above.

RoboForex Analytical Department

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article By RoboForex.com

EUR USD, “Euro vs US Dollar”

The EUR/USD pair has finished the first descending impulse. We think, today the price may start the second impulse and break the rising channel. The instrument is expected to form the first wave with the target at 1.1955.

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is still moving upwards. Possibly, the price may reach 1.3622 and then resume falling with the first target at 1.3455.

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is consolidating near the lows. According to the main scenario, the price may break the range upwards and start another growth. The first target is at 0.9788.

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is trading to rebound from the downside border of the Triangle pattern. Possibly, the price may grow to reach 112.85 and then fall towards 112.44.

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is moving downwards to reach 0.7770. After that, the instrument may resume trading upwards with the target at 0.7807 and then continue forming the descending wave towards 0.7665.

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is consolidating above 57.64. If later the instrument breaks this range to the downside (the main scenario), the market may continue falling inside the downtrend to reach 56.55; if to the upside – start another correction towards 58.35 and then resume moving downwards to reach the main target.

XAU USD, “Gold vs US Dollar”

Gold has completed the descending impulse. Possibly, the price may continue forming this descending wave. The first target is at 1302. Later, in our opinion, the market may grow towards 1311 and then resume moving downwards to reach 1292.

BRENT

Brent has broken 66.42. Possibly, today the price may continue growing to reach 68.30. The local target of this wave is at 70.72. Considering that there are no corrections in this structure, the market may start another decline towards 64.60. After that, the instrument may continue growing inside the uptrend to reach the main target.

RoboForex Analytical Department

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

By GrowthAces.com

Macroeconomic overview:

• 2017 has seen a downward correction in the USD. It has been aided by the US administration’s ongoing messy handling of politics and the pickup in growth in the rest of the world, but the fact of the matter is that the greenback had long been substantially and stubbornly overvalued.
• In 2018 our central scenario envisages further USD depreciation – albeit slower, as the gravitational pull of overvaluation is now weaker than it was a year ago.
• In our view, the upward USD move since early September of this year is largely attributable to technical reasons. The build-up of extreme dollar short positioning eventually led speculative investors to square some of these positions as short-term indicators were flagging stretched/overbought conditions. However, underlying fundamentals have not changed. If anything, cleaner positions should whet investors’ appetites to re-engage in “short dollar” trades again before too long.
• Additionally, our call for a lower dollar is in line with historical norms at similar stages of the Fed’s tightening cycle (we expect that we are currently mid-way through the hiking path). More often than not, the USD tends to peak at the beginning of the hiking cycle but starts depreciating as the target rate increases, most likely because the growing maturity of the business cycle, in combination with tighter financial conditions, start weighing on growth and growth expectations at home.
• Admittedly this is not a typical tightening cycle, but the dollar depreciation so far last year seems to suggest that this historical pattern remains at play.
• And the implementation of US tax reform is unlikely to turn things around this time. Tax cuts should produce a modest temporary boost to growth but will not fundamentally alter the long-term trajectory of the economy. In fact, it is not at all clear whether these measures will have any positive effect on the dollar. Ultimately, it is a plan that foresees deterioration in domestic fiscal balances without even attempting to address the US productivity issue. Fundamentally, the widening of the deficit should actually be dollar-negative.
• Of course there are both upside and downside risks to our scenario.
• Any development that puts downside pressure on sentiment and global risk appetite would lead to “flight to safety” and likely cause dollar strength, mostly against high-beta and liquid emerging-market FX. In such an environment, JPY would strengthen – as a risk-off trade – while the implications for the euro are less clear given that the currency’s correlation with risk assets has varied greatly over time. An escalation of tensions between Saudi Arabia and Iran (or any other geopolitical risk flaring up) poses perhaps the most immediate risk to our bearish dollar forecasts, mostly – in this case – against high-beta risk sensitive currencies. Other risks that could lead to a resumption of dollar strength include a pronounced Chinese growth slowdown (potentially triggered by the Chinese authorities moving too aggressively to curb credit growth) and/or US growth/inflation surpassing our expectations, prompting the Fed to tighten more aggressively.
• On the other hand, dollar downside could accelerate if the slowdown in the US arrives earlier than we expect. In this scenario, EUR could appreciate at a faster clip – at least initially – as the market starts pricing out some Fed rate tightening, and the yen would get a further boost higher.
• Turning to the EUR, we forecast further gains in 2018 and extending into 2019. Our target for end-2018 is at 1.28 and 1.32 for end-2019. Relative to forwards we are more bullish. We see three arguments that support our constructive view.
• The process of EUR/USD convergence to equilibrium has started and has further to run. This is underpinned by persistently strong economic tailwinds and the pricing out of political risk premiums. A notable feature is that investment as a percentage of GDP in the Eurozone is rising, but remains below pre-2007 levels. This has two immediate implications from an FX perspective: first, it highlights robustness in good underlying fundamentals, increasing conviction in our call for more EUR upside; and second, as investment (one of the cornerstones of our fair valuation framework) continues to be on an upward trend, moving towards higher historical averages, there will be a tendency for EUR/USD fair value to increase (moderately) further, putting more upside pressure on spot.
• The market is now relatively well placed and priced for the gradual normalization in Fed policy. This implies that the typical cyclical currency response to FOMC tightening (USD peaks as investors gear up for monetary policy tightening but generally weakens as it gets underway) is in full swing. In contrast, ECB tapering has only recently been announced and implementation will start in January 2018. Though this withdrawal of monetary policy accommodation will be a very gradual process, it still signals an end to ultraexpansionary policy. Since the announcement, rates in the euro area have declined which is suggestive of a mispricing that should (admittedly, gradually) correct. In other words, the divergence in US-Eurozone monetary policies should be less pronounced in 2018 and 2019 than it has been over the last two years. This should be good for EUR/USD.
• Since late 2016, there has been convincing evidence that portfolio flows are returning to the euro area following years of foreign investors sharply reducing their exposure to the region’s assets. This process is far from over as the portfolio balance (outflows minus inflows) is still far from its long-run average and remains out of sync with the improved economic outlook and lower region-specific political risk. The return of portfolio money – especially into the equity market – should be an additional factor supporting the exchange rate.
• Risks are broadly balanced. Upside risks stem mostly from the possibility of euro overshooting – a typical feature of previous cycles – during which EUR/USD closes the undervaluation gap and then rises prominently above fair value as market momentum overpowers fundamentals in the short-to-medium term. This time, the ECB’s inclination to keep EUR gains capped will prevent a fast and significant overshooting, though it still represents a risk. On downside risks, the possibility of a faster Fed tightening cycle in case US growth/inflation surprise on the upside could halt or reverse last year’s EUR appreciation.

Technical analysis:

• The EUR/USD broke above 1.1960, November 27 high and psychological resistance at 1.2000. The next hurdle is 1.2092 high on September 8.
• We stay long for 1.2150, just below 50% fibo of 2014-2017 drop.

TRADING STRATEGIES SUMMARY:

FOREX – MAJOR PAIRS:

FOREX – MAJOR CROSSES:

PRECIOUS METALS:

How to read these tables?

1. Support/Resistance – three closest important support/resistance levels
2. Position/Trading Idea:
BUY/SELL – It means we are looking to open LONG/SHORT position at the Entry Price. If the order is filled we will set the suggested Target and Stop-loss level.
LONG/SHORT – It means we have already taken this position at the Entry Price and expect the rate to go up/down to the Target level.
3. Stop-Loss/Profit Locked In – Sometimes we move the stop-loss level above (in case of LONG) or below (in case of SHORT) the Entry price. This means that we have locked in profit on this position.
4. Risk Factor – green “*” means high level of confidence (low level of uncertainty), grey “**” means medium level of confidence, red “***” means low level of confidence (high level of uncertainty)
5. Position Size (forex)– position size suggested for a USD 10,000 trading account in mini lots. You can calculate your position size as follows: (your account size in USD / USD 10,000) * (our position size). You should always round the result down. For example, if the result was 2.671, your position size should be 2 mini lots. This would be a great tool for your risk management!
Position size (precious metals) – position size suggested for a USD 10,000 trading account in units. You can calculate your position size as follows: (your account size in USD / USD 10,000) * (our position size).
6. Profit/Loss on recently closed position (forex) – is the amount of pips we have earned/lost on recently closed position. The amount in USD is calculated on the assumption of suggested position size for USD 10,000 trading account.
Profit/Loss on recently closed position (precious metals) – is profit/loss we have earned/lost per unit on recently closed position. The amount in USD is calculated on the assumption of suggested position size for USD 10,000 trading account.

VIP Traders Club members should expect to receive forex and precious metals trading signals updates at least twice a day. We will send you:

1. Buy and sell forex, precious metals signals (entry level, target, stop-loss)
2. Suggested position size that you can easily adjust to your trading account size – this would help you in risk management and you will survive longer drawdown periods
3. Early heads-up about the potential trading opportunities or rationale to taken positions ( fundamental analysis, technical analysis )
4. Forecasts of most important macroeconomic indicators prepared by our economists and econometricians.

JOIN VIP TRADERS CLUB NOW!

About the Author:

By GrowthAces.com – Daily Forex Trading Strategies

By CountingPips.com

Here is a short summary and this week’s links (below) to the latest Commitment of Traders changes that was released on Friday.

Speculators slightly trimmed US Dollar bearish positions this week

WTI Crude Oil Speculators cut back on record high bullish bets this week

Gold Speculators raised their bullish net positions this week

10-Year Note Speculators decrease positions into new bearish level

S&P500 Speculators lowered their net positions this week

Silver Speculators reduced their net positions for a 5th week

Copper Speculators sharply boosted their bullish net positions this week

Forex Speculators slightly trimmed US Dollar bearish positions this week

US Dollar net speculator positions leveled at $-0.458 billion as of Tuesday

The latest data for the weekly Commitment of Traders (COT) report, released by the Commodity Futures Trading Commission (CFTC) on Friday, showed that large traders and currency speculators reduced their bearish bets of the US dollar this week. See full article

WTI Crude Oil Speculators cut back on record high bullish bets this week

The non-commercial contracts of WTI crude futures totaled a net position of 601,839 contracts, according to data from this week. This was a slide of -12,658 contracts from the previous weekly total. See full article

Gold Speculators raised their bullish net positions this week

The large speculator contracts of gold futures totaled a net position of 113,795 contracts. This was a weekly advance of 6,727 contracts from the previous week. See full article

10-Year Note Speculators decrease positions into new bearish level

The large speculator contracts of 10-year treasury note futures totaled a net position of -44,230 contracts. This was a weekly reduction of -88,971 contracts from the previous week. See full article

S&P500 Speculators lowered their net positions this week

The large speculator contracts of S&P 500 futures totaled a net position of 1,532 contracts. This was a decrease of -3,052 contracts from the reported data of the previous week. See full article

Silver Speculators reduced their net positions for a 5th week

The non-commercial contracts of silver futures totaled a net position of 2,469 contracts, according to data from this week. This was a weekly fall of -7,445 contracts from the previous totals. See full article

Copper Speculators sharply boosted their bullish net positions this week

The large speculator contracts of copper futures totaled a net position of 42,698 contracts. This was a weekly boost of 14,944 contracts from the data of the previous week. See full article

Article by CountingPips.com

The Commitment of Traders report data is published in raw form every Friday by the Commodity Futures Trading Commission (CFTC) and shows the futures positions of market participants as of the previous Tuesday (data is reported 3 days behind).

To learn more about this data please visit the CFTC website at http://www.cftc.gov/MarketReports/CommitmentsofTraders/index.htm

By CountingPips.com – Get our weekly COT Reports by Email

US Dollar net speculator positions stand at $-0.458 billion this week

The latest data for the weekly Commitment of Traders (COT) report, released by the Commodity Futures Trading Commission (CFTC) on Friday, showed that large traders and currency speculators reduced their bearish bets of the US dollar this week.

Non-commercial large futures traders, including hedge funds and large speculators, had an overall US dollar net position totaling $-0.458 billion as of Tuesday December 26th, according to the latest data from the CFTC and dollar amount calculations by Reuters. This was a weekly rise of $1.722 billion from the $-2.18 billion total position that was registered the previous week, according to the Reuters calculation (totals of the US dollar contracts against the combined contracts of the euro, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc).

The aggregate speculative position is at the lowest bearish level since November as bets for the dollar have risen for two straight weeks. The dollar has remained in bearish territory for a twenty-third straight week to end the year of 2017.

Weekly Speculator Contract Changes:

The major currencies that improved against the US dollar this week were the euro (5,924 weekly change in contracts) and the Swiss franc (3,493 contracts).

The currencies whose speculative bets declined this week versus the dollar were the British pound sterling (-7,712 weekly change in contracts), Japanese yen (-1,713 contracts), Canadian dollar (-28,555 contracts), Australian dollar (-979 contracts), New Zealand dollar (-967 contracts) and the Mexican peso (-17,510 contracts).

Table of Weekly Commercial Traders and Speculators Levels & Changes:

This latest COT data is through Tuesday and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets. All currency positions are in direct relation to the US dollar where, for example, a bet for the euro is a bet that the euro will rise versus the dollar while a bet against the euro will be a bet that the dollar will gain versus the euro.

Weekly Charts: Large Trader Weekly Positions vs Price

EuroFX:

British Pound Sterling:

Japanese Yen:

Swiss Franc:

Canadian Dollar:

Australian Dollar:

New Zealand Dollar:

Mexican Peso:

*COT Report: The weekly commitment of traders report summarizes the total trader positions for open contracts in the futures trading markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).

The Commitment of Traders report is published every Friday by the Commodity Futures Trading Commission (CFTC) and shows futures positions data that was reported as of the previous Tuesday (3 days behind).

Each currency contract is a quote for that currency directly against the U.S. dollar, a net short amount of contracts means that more speculators are betting that currency to fall against the dollar and a net long position expect that currency to rise versus the dollar.

(The charts overlay the forex closing price of each Tuesday when COT trader positions are reported for each corresponding spot currency pair.) See more information and explanation on the weekly COT report from the CFTC website.

Article by CountingPips.com

By CountingPips.com – Receive our weekly COT Reports by Email

WTI Crude Oil Non-Commercial Speculator Positions:

Large oil speculators reduced their bullish net positions in the WTI Crude Oil futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial futures contracts of WTI Crude Oil futures, traded by large speculators and hedge funds, totaled a net position of 601,839 contracts in the data reported through Tuesday December 26th. This was a weekly lowering of -12,658 contracts from the previous week which had a total of 614,497 net contracts.

The speculative position came off three straight weeks of new record highs as the oil bets have risen for eight out of the past ten weeks. The overall level has remained above the +600,000 net position standing for four straight weeks.

WTI Crude Oil Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -619,991 contracts on the week. This was a weekly increase of 9,339 contracts from the total net of -629,330 contracts reported the previous week.

USO:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the USO Crude Oil ETF, which tracks the price of WTI crude oil, closed at approximately $11.51 which was a rise of $0.07 from the previous close of $11.44, according to unofficial market data.

*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).

Article By CountingPips.com – Receive our weekly COT Reports by Email