November 26th, 2018 – By CountingPips.com – Receive our weekly COT Reports by Email
Copper Non-Commercial Speculator Positions:
Large precious metals speculators raised their bullish net positions in the Copper futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Monday due to the Thanksgiving day holiday.
The non-commercial futures contracts of Copper futures, traded by large speculators and hedge funds, totaled a net position of 12,602 contracts in the data reported through Tuesday November 20th. This was a weekly rise of 9,187 net contracts from the previous week which had a total of 3,415 net contracts.
The week’s net position was the result of the gross bullish position advancing by 7,229 contracts to a weekly total of 80,698 contracts compared to the gross bearish position total of 68,096 contracts which saw a reduction by -1,958 contracts for the week.
Speculative net positions saw the largest one-week gain in the past eight weeks. The current standing is now at the best level since July 10th when the net position totaled 14,183 contracts.
Free Reports:
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Copper Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -13,124 contracts on the week. This was a weekly decline of -9,372 contracts from the total net of -3,752 contracts reported the previous week.
Copper Futures:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Copper Futures (Front Month) closed at approximately $276.65 which was an uptick of $7.95 from the previous close of $268.70, according to unofficial market data.
*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).
Article By CountingPips.com – Receive our weekly COT Reports by Email
- Indices decline amid hawkish comments from the Fed. Investors are waiting for Israel’s answer Apr 17, 2024
- EURGBP: Slams into support on hot UK inflation Apr 17, 2024
- Brent crude prices dip amid concerns over global demand Apr 17, 2024
- Stock indices sell-off amid rising geopolitical tensions in the Middle East. China’s GDP grew the most in a year Apr 16, 2024
- New FXTM commodity hits all-time high! Apr 16, 2024
- NZD hits five-month low against strong US dollar Apr 16, 2024
- Escalating conflict in the Middle East is forcing investors to shift funds to safe assets Apr 15, 2024
- US dollar exhibits remarkable strength amid global tensions Apr 15, 2024
- COT Metals Charts: Speculator bets led higher by Copper & Platinum Apr 13, 2024
- COT Bonds Charts: Speculator Bets led by 10-Year & 5-Year Bonds Apr 13, 2024