On the heels of the recent rally in the crude oil market and takedown in the metals, the commercials have now reached extreme levels in the crude oil market as they turn more bullish on the metals.
Crude Oil & Silver
April 23 (King World News) – Commercial hedgers have been aggressively shorting the rally in the crude oil market as shown in the chart below.
Commercials Aggressively Shorting Rally In Oil
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Commercial hedger short positions in the oil market now reaching extreme levels (see chart below).
25- Year Chart Shows Commercial Shorts In Oil Market Near Extreme Levels
Sentiment In The Silver Market
Sentiment in the silver market has now reached “Extreme Pessimism” (see chart below).
Silver Sentiment Reaches “Extreme Pessimism”
Big Picture For Silver
For what it’s worth, the 25-year chart shows commercial hedgers have already turned bullish on the silver market and next week’s COT report should be even more bullish (see chart below).
25-Year Chart Shows Commercials Bullish On Silver
It will be very interesting to see next week’s COT report not only for oil and silver, but also for gold. KWN will keep you updated on key changes as soon as the figures are released.
***KWN has now released Gerald Celente’s KWN audio interview discussing what will surprise investors in the back half of 2019 CLICK HERE OR ON THE IMAGE BELOW.
***Also just released: Whitney George – The Big Picture For The Gold Sector CLICK HERE TO READ.
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