Here is a plot of the largest 4 WTI traders net positions using my proprietary metric. This is what I call a leading indicator. You can see a clear build up in long positions ahead of this springs big move up as well as a move neutral to short over the summer while price was range bound and then eventually crashing. Then you can see another long build ahead of the late August spike and a continuous long build now. You can determine on your own what is coming next. I'm betting on an up move. Long USO, crude and gasoline futures and UWTI. I'm more confident in gasoline futures in the coming days since gasoline inventories were down this week while crude was up. Not to mention all the crude in storage, tankers and the general US overproduction.
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