Oil: traders are preparing for price growth?

according to COT (Commitements of Traders), provided by the commercial trade in commodity futures (CFTC) – for a week that ended in the last Tuesday, large speculators (Non -Commercial) increased the clean position for the purchase of oil contracts by 3.5 thousand contracts to 278.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3.3. thousand large speculative players increase a clean position to buy a third week in a row. Pure position is maximum since July 5.

Hedgers (Commercial) increased the clean position on the sale of oil contracts by 6.1 thousand contracts to 307.4 thousand Heders-operators They increase the clean position for sale also for the third week in a row. Open interest increased by 23 thousand contracts to 1.469 million. Bull -bull index of large speculators (the ratio of the number of contracts for the purchase for sale contracts) increased by 0.41 to 4.34 per week.

resumes: COT reports for oil reflect the growth of bull moods. Traiders for the third week increase a clean position for rising prices. At the same time, a clean position has updated maximums over the past 4 months. The continuation of this trend can contribute to the growth of oil quotes.

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