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WTI oil price in the CFTC report

The CFTC weekly report can provide some valuable insights into the market sentiment for a wide variety of commodities and currencies, but the way this data is presented is far from user friendly, and is therefore ignored by many oil traders. In addition, many traders believe that COT data has little relevancy as it appears three days after the data is collated. Nevertheless, I believe it is a useful tool for longer term market sentiment, and following my recent presentation at the CME event sponsored by Interactive Brokers, I’ve recorded this short video to explain how I use the data in my own oil trading in the futures market. As you will see from the video my approach is very simple and for a few minutes work each week the COT report can then provide us with a simple chart of market sentiment for longer term speculative trading in oil and also of course all the other commodities and currencies offered by the major exchanges such as the CME.