Keep An Eye On These 2 Crude Oil Tactical Indicators
Callum Thomas | Jun 22, 2017 06:31AM ET
In the latest edition of the futures positioning , which has indeed come down from extreme bullish levels, however it's still not quite at a capitulation point where we would become high conviction bullish on a contrarian basis. So keep watching the indicators as buying opportunities may well present in the coming weeks.
Crude oil volatility has turned up after making post-crash lows, a pattern consistent with a fall in oil, and yet it has not spiked to the degree that it has in the past when the market is near a bottom.
Crude oil speculative futures positioning has come down a lot, but could go further, and should it go further it would start to build a contrarian bullish case.
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