Thursday, August 29, 2013

WTIC Crude Oil COT (Committment of Traders) and Daily Charts

The COT chart shows the large speculators, the so-called smart money, long oil, while the commercial's, the so-called dumb money, is net short oil. The red circles show the tops in the oil market where the selling begins and the green circles show the bottoms where the buying begins. Oil moved through the 86-98 range for over one year until the break out in late June due to the Middle East turmoil. A higher range is established at 104-109 and oil broke out above this level yesterday. WTIC is printing 109.13 at this writing back kissing the important 109 support. The red lines show negative divergence in place. The expectation is for oil prices to drop moving forward but the Syria, Egypt and Middle East and Northern Africa drama's continue. A move back into the 104-109 range is anticipated over the near-term. The 109 S/R is a key pivot. Keystone is shorting oil via SCO, a 2x inverse oil ETF. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.

The COT chart is from COT Price Charts annotated by Keystone.


  1. Good US GDP figure: 2.5 % versus 2.2% expected... see you in "Septaper" :)


    1. I can't wait to see also the Jobs/labour market data on Sept 6 - Friday!
      If it's medium to strong positive data .... those who are short on this market will give a free drink!


  2. Great post , thanks you for sharing this very good and informative updates of currency pair.


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