OIL’s C.O.T. – The shorts by ‘Smart Money’ increased again. They are determined to ride a drop in Oil prices, though Oil has been bullish in recent weeks.
WTIC DEC 29th – Oil did tag the $60. In the past I mentioned that it could tag prior highs shown here near $62- this was last week’s weekend chart.
WTIC – Oil tagged the $62.21 and closed down at $61.44 this week. It is Due cycle timing wise for a dip now. The COT agrees. This looks VERY bullish if it breaks out, so I would say that if we get our dip – it is a strong buy when the lows are finally in place.
Chart Freak Premium
Chart Freak members receive up to 5 premium reports per week covering a wide array of markets. I review and present well over 150+ charts per week for your consideration. Come and join the ChartFreak community as we trade the next run in the Gold Bull Market and various other trending sectors.