USOIL - COT data suggests institutional selling
While FXCM and IG retail sentiment remains bullish for USOIL, institutions have started to become bearish from May 20th, with majority of leveraged funds and hedge funds accumulating short positions on WTI, USOIL. This likely means further downside is likely for USOIL. Order book analysis suggests there are plenty of market depth on the DOM at approx. 70.8 levels.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.