The COT report in KC should be released tomorrow. We should have a clear picture of the participants but most of the volume represents rolling as Dec liquidation took place while March grew. Besides the roll, option expiration which took place on Thursday was the focus of traders. The day after was a steady day but with much resistance as any squaring of positions due to expiration took place.
Friday was the continuation of a steady market. Of course, option expiration and the rolling out of Dec are relevant. Still, the bounce from the 102.00/103.00 seems to be continuing.
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