Hi guys,

It looks like COT positioning hit a plateau. Unless new bullish news come, this can be interim top. However, I am not calling a reversal yet.

Weekly Summary - Speculators

Index of speculators is 96%. Previous reading was 96%.
During the week speculators were selling at low speed. They sold 612 contracts. Last 3 weeks show sporadic selling pattern.
Speculators index sits at extreme levels. During last weeks index moved towards extreme values. Current market balance indicates limited bullish potential (and good potential for bears), however this indicator alone is not enough to make good decisions.

Weekly Summary - Producers

Index of producers is 19%. Previous reading was 20%.
During the week producers were selling at low speed. They sold 586 contracts. Last 3 weeks show sporadic selling pattern.
Producers index sits in the lower quartile. During last weeks index moved towards extreme values. Current market balance indicates limited bullish potential (and good potential for bears), however this indicator alone is not enough to make good decisions.

Further analysis is on my site https://www.valknut-analytical.com

Speaking of other markets zones of depression and euphoria:
- gold is still in euphoria zone, no reason to short the market, there is still bullish potential,
- soybeans confirmed bottom and generated a strong buying signal,
- gasoline left depression zone,
- cotton left depression zone,
- nat gas remains in depression zone but the confidence in this zone is low.

Happy trading!