CL Redux

<b>COT (Commitment Of Traders) reading Crude oil at 100 , Gold at 0 </b>

The COT Index is the difference between net speculative positioning and net commercial positioning measured. A light blue colored bar indicates that the difference in positioning is the greatest it has been in 52 weeks (bullish) with speculators selling and commercials buying.

A light red colored bar indicates that the difference in positioning is the greatest it has been in 52 weeks (bearish) with speculators buying and commercials selling. Crosses above and below 0 are in bold.

<b>Non commercials tend to be on the wrong side at the turn and commercials the correct side </b>

http://www.dailyfx.com/forex/techni...st_Commodity_to_Register_Extreme_Reading.html
 
By Observing the charts at URL given below , This COT takes Weeks to Month to give any Price action based on COT numbers, we short term traders should NOT read too much into this report.

Quote from InvestVision:

<b>COT (Commitment Of Traders) reading Crude oil at 100 , Gold at 0 </b>

The COT Index is the difference between net speculative positioning and net commercial positioning measured. A light blue colored bar indicates that the difference in positioning is the greatest it has been in 52 weeks (bullish) with speculators selling and commercials buying.

A light red colored bar indicates that the difference in positioning is the greatest it has been in 52 weeks (bearish) with speculators buying and commercials selling. Crosses above and below 0 are in bold.

<b>Non commercials tend to be on the wrong side at the turn and commercials the correct side </b>

http://www.dailyfx.com/forex/techni...st_Commodity_to_Register_Extreme_Reading.html
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IF the DOE report is some what similar to released API , overall it looks Bearish for Crude prices ( just by this Inventory factor itself )

Crude/Gasoline/Distillates : -2.6 / + 2.6 / +3.8 ==> Net +3.8 MM Barrels

<b>1/ The API report shows that US Crude stockpiles shrank 2.6 million barrels last week, which is bearish given that the oil market is in backwardation, and many analysts expected many sellers would take advantage of unusually high prices, and sell any oil they could out of inventory. </b>

2/ The real bearish part comes in the product numbers given the insane run-up in product prices. Gasoline stockpiles rose 2.6 million barrels last week, so much for that vaunted fuel shortage. Analysts were expecting a drawdown in supplies around 1.5 million barrels in the EIA report.

3/ It gets even more bearish as we go through the inventory numbers as Distillates increased 3.8 million barrels which includes heating oil and diesel. Inventories for Distillates were expected to climb approximately 1.5 million barrels in the EIA report.

Quote from BlueStreek:

http://www.econmatters.com/2013/07/oil-api-numbers-bearish-for-wednesdays.html
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07/17/2013 10:30 *DJ DOE: US Crude Oil Stocks -6.902M Bbl In Wk; Seen -2.2M Bbl

07/17/2013 10:30 *DJ DOE: US Crude Oil Stocks -6.902 Mln Bbl At 367.016 Mln Bbl
 
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