cRUDE awakening?

more importantly, natural gas futures hit highs before coming back in, probably sell the news situation on the weather forcast. crude oil is still bearish, and distillates/heating oil isn't as bullish as most of north american heating is done with natural gas. also, distillates has a diesel component. imo, there is no doubt nat gas will retest and make new highs before the winter's done.

http://www.futuresource.com/charts/charts.jsp?s=NGF06&o=&a=D&z=610x300&d=MEDIUM&b=CANDLE&st=

Quote from gharghur2:

cRUDE got whacked yesterday, just when it looked like it was about to get something going: helped the equity market rally.

An aberation?
A retest of $56, or a breakdown to the next pivot at $52?

Where's the seasonality guys?
Shouldn't cRUDE be preparing to rally into January?
More...
 
Quote from Hook N. Sinker:

I do not think I made any money in crude during November or December 2005. Prices are so choppy I just win lose win lose win lose. I hope a trend appears.
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Hook ...

Doesn't January typically offer rising prices in preparation of an increase in gasoline demand?
 
Quote from Lights:

more importantly, natural gas futures hit highs before coming back in, probably sell the news situation on the weather forcast. crude oil is still bearish, and distillates/heating oil isn't as bullish as most of north american heating is done with natural gas. also, distillates has a diesel component. imo, there is no doubt nat gas will retest and make new highs before the winter's done.

http://www.futuresource.com/charts/charts.jsp?s=NGF06&o=&a=D&z=610x300&d=MEDIUM&b=CANDLE&st=
More...

Your chart looks very bullish especially with those upside gaps.
 

Attachments

Time to sell Crude? Anyone know how to interpret the COT? This is with options included.

CRUDE OIL, LIGHT SWEET - NEW YORK MERCANTILE EXCHANGE Code-067651
OPTION AND FUTURES COMBINED POSITIONS AS OF 01/10/06 |
--------------------------------------------------------------| NONREPORTABLE
NON-COMMERCIAL | COMMERCIAL | TOTAL | POSITIONS
--------------------------|-----------------|-----------------|-----------------
Long | Short |Spreads | Long | Short | Long | Short | Long | Short
--------------------------------------------------------------------------------
(CONTRACTS OF 1,000 BARRELS) OPEN INTEREST: 1,492,595
COMMITMENTS
154,705 92,572 424,577 835,421 892,160 1414703 1409309 77,892 83,286

CHANGES FROM 01/03/06 (CHANGE IN OPEN INTEREST: 50,510)
10,618 2,795 21,711 8,184 27,254 40,512 51,760 9,997 -1,251

PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADER
10.4 6.2 28.4 56.0 59.8 94.8 94.4 5.2 5.6

NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS: 302)
89 106 146 83 91 256 269
 
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