WTF is going on here? Plus a fascinating look at the silver market.
January 19 (King World News) – ALERT: In a WTF moment, commercials have just massively increased their already record short positions in crude oil to another new all-time record by adding more than 55,000 more (net) short contracts (see stunning 10-year chart below).
STUNNING: Massive All-Time Record Commercial Short Positions In Crude Oil!
23-Year Chart Shows Jaw-Dropping, All-Time Record Commercial Short Positions In Crude Oil!
Turning To Silver…
Commercials were essentially flat for the week in the silver market. Meaning, they added almost nothing to their already existing, very small short positions in the silver market.
Commercials Not Bearish On Silver!
Below is a long-term 23- year look at commercial short positions in the silver market (see chart below).
23-Year Chart Shows Commercials Not Bearish On Silver Price
The Bottom Line
King World News will keep a close eye on commercial positions in the crude oil and silver markets. At some point, there is going to be one hell of a plunge in the oil price. With regards to silver, the only downside danger would be as a result of weakness in the gold price. Silver may then trade lower in sympathy. Otherwise, the silver price looks extremely bullish at these levels.
***ALSO JUST RELEASED: John Embry – The World Is Going To See $300 Silver CLICK HERE.
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