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Short

USOIL : Continuing short

NYMEX:CL1!   Light Crude Oil Futures
111 0 2
From last weeks COT Report further decline is possible and likely. I am not really expecting a drop below 40, but there is the possibility that the 40-42 Region can be hit within the next 1-2 weeks. I am expecting the reduction of Commercials Net Short % back to long term average of about 14-15 % prior the start of the next upward trend.
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