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Crude Oil Forecast: Short Covering and WTI Spread Hint at Bounce
I noted in recent weeks that the downtrend on WTI crude oil has lacked bearish enthusiasm from futures traders. Data from the weekly Commitment of Traders (COT) report shows that the combined volume of large speculators and managed funds have been trending lower alongside prices, which could be compared to driving down a hill while easing off the accelerator. A truly bearish move we see investors accelerate their way down that hill and volumes rise. So, while large speculators reduced their net-long exposure for a seventh week, they have also trimmed longs six of those seven weeks, and reduced shorts two of the last ... (full story)
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- Posted: Mar 12, 2025 11:48pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 71
