Themes and highlights
Finally, some of the strongest commodity markets pulled back with some rather sharp. Energy and Grains are now vulnerable to more downside. The potential for upside includes cocoa, lean hogs, live cattle, and Copper. There were several markets that saw large COT decreases in long exposure.
BLOOMBERG COMMODITY INDEX DAILY AND WEEKLY
Bloomberg Commodity Index daily finally broke the drift higher
Bloomberg Commodity Index Weekly
COMMODITY SENTIMENT OVERVIEW
A large broad drop in sentiment
OIL AND ENERGY
Bloomberg Energy Subindex Daily
Bloomberg Energy Subindex Weekly worked rather sharply
WTI Crude futures daily
WTI Crude Futures Weekly
WTI Crude futures bullish sentiment reversed but did not break the May lows yet
WTI Crude futures Commitment of Traders shows speculators significantly decreasing long exposure
Gasoline Futures started to break over a week ago
Natural Gas futures daily
Natural Gas futures bullish sentiment broke the recent overbought range
Natural Gas futures Commitment of Traders shows speculators increasing SHORT exposure
Metals
Gold futures daily no changes withing short term range
Gold futures bullish sentiment despite the price action remains elevated
Gold futures Commitment of Traders shows speculators significantly decreasing long exposure
Silver futures daily needs to rise to confirm the buy Countdown 13
Silver Bullish Sentiment did get a nice spike
Silver futures Commitment of Traders shows speculators decreasing long exposure and is neutral
Copper futures daily has some buy signals
Copper futures bullish sentiment is at peak oversold levels now.
Copper futures Commitment of Traders shows speculators significantly increasing SHORT exposure
Platinum daily
Platinum bullish sentiment is neutral
Platinum Commitment of Traders shows speculators increasing SHORT exposure
Palladium daily
Palladium bullish sentiment has remained under pressure
Palladium Commitment of Traders shows speculators increasing SHORT exposure small
Grains
Corn futures daily
Corn futures bullish sentiment with possible lower high here too
Corn futures Commitment of Traders shows speculators increasing long exposure
Wheat futures daily breaking down
Wheat futures bullish sentiment at support at ~50%
Wheat futures Commitment of Traders shows speculators decreasing long exposure
Soybean futures daily still sideways with 1500 support
Soybean futures bullish sentiment nearing the low end of the elevated range
Soybean futures Commitment of Traders shows speculators increasing long exposure
Livestock
Cattle futures daily
Cattle futures bullish sentiment trying to lift but needs to get over 50%
Cattle futures Commitment of Traders shows speculators increasing long exposure
Lean Hogs futures daily with potential upside if 101 can hold
Lean Hogs bullish sentiment improving
Lean Hogs Commitment of Traders shows speculators decreasing long exposure
Softs
Cotton futures daily looks lower
Cotton futures bullish sentiment with lower highs and support at 40%
Cotton Futures Commitment of Traders shows speculators decreasing long exposure
Coffee futures daily still sideways with lower highs
Coffee futures bullish sentiment holding 50% for now. Sorry for the pricing mess here. For some reason our data provider likes to play tricks on us
Coffee futures Commitment of Traders shows speculators decreasing long exposure
Sugar futures daily still has a downside Sequential in progress
Sugar futures bullish sentiment trying to hold at the midpoint
Sugar futures Commitment of Traders shows speculators significantly decreasing long exposure
Cocoa futures daily could rise from here at the DeMark Sequential buy Countdown 13
Cocoa futures bullish sentiment has been under pressure and oversold
Cocoa futures Commitment of Traders shows speculators significantly increasing SHORT exposure
Lumber futures daily
Lumber bullish sentiment spiked from oversold levels for the last 3 months
DeMark Sequential Basics
MORE DETAILED COMMITMENT OF TRADERS DEFINITIONS
