The red circles show tops in crude oil and the green circles show bottoms in crude oil. Crude oil is set up the opposite of gold and silver. Whereas gold and silver bottomed two weeks ago and are continuing to attempt a recovery rally, crude oil has catapulted higher on Egypt, Syria and Turkey unrest. The momo is higher lately but as the COT shows, the smart money is short and the dumb money is long so a top in oil is forecasted with a pull back required. COT is a lagging chart since the information may already be one week old. At this writing Sunday evening oil is moving higher with WTIC and Brent oil at parity, both printing 108.40. Projection is down ahead. Keystone opened a long position in SCO which is a double X inverse ETF that shorts oil. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
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COT Charts
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