crude oil prices cot suggest that we may see crude at

crude oil prices COT suggest that we may see crude at 

Crude oil advanced to a seven-month high, US drilling increased from the lowest level in more than six years see the chart below,The rig count has dropped since hitting a peak of 1,609 in October 2014 as U.S. crude futures fell from over $107 a barrel in mid-2014 to a nearly 13-year low around $26 in February,Since then, U.S. oil futures have jumped by about 90 percent, breaking through the $50 mark earlier this week.

crude oil rig count
crude rig count

If we will look at the COT data we see also that the position is mixed = net long and net short on the crude oil prices are among the traders, Speculators cut their total long and short positions on WTI crude to the lowest since January 2015 – the situation reminds me may 2013 when the cot shows the same pattern see below:

crude oil cot position
cot position

Technıcal analysıs poınt that we may see crude oıl prıce goıng to test 51.60 -52.40

crude oil forecast
crude oil

This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice

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