I am publishing information on this strategy for the first time, all previous ideas on oil were the subjective and often erroneous opinion of the author. The correction is over, a long-term signal has arrived. The global uptrend in oil is returning. This is not the subjective opinion of the author, but a trading strategy based on COT signals backtested over the past 20 years of history. COT reports work great and show long-term trend directions. Today and right now, there was a breakdown of the local downtrend (correction). Look for an entry using your favorite market entry technique. Information from COT reports gives the go-ahead to buy oil.
COT strategy: 1) COT reports show a big buys by hedgers during the last 4 months of correction. 2) There were no signals for the last 6 months. ADX also showed the absence of a trend and forbade trading 3) The trend reversed for months as COT reports work for the long term