Commitment of Traders (COT) report analysis- CRUDE OIL Futures Only Positions as of 2020-06-30

Commitment of Traders (COT) Report – CL

The number of traders net-long is 10.76% lower from last week, while the number of traders net-short is 5.50% higher from last week.

As per the contrarian view to crowd sentiment, and the fact traders are net-long suggests Oil – US Crude prices may continue to fall.

Yet traders are less net-long than compared with last week. Recent changes in sentiment warn that the current Oil – US Crude price trend may soon reverse higher despite the fact traders remain net-long.

Support: $35.55 – $33.53

Resistance: $42.65 – 45.83