TradingView
0
All posts from TradingView
TradingView in TradingView,

Crude: Selloff may continue

Crude: Selloff may continue

This weeks COT data shows the interesting point that commercials reduced their NetShort% positions by 5% within 2 weeks... That's a whole lot. Positioning is back to long time average . So I would not expect a further healthy reduction of 2-3% in their positioning. On the other side HYG/JNK shows some dip and one can expect crude to follow. But be aware that any rumor on Russia/SA agreement on production freeze/cut will result in another significant short squeeze..