Non-Commercials and Non-reportables are already approaching extreme levels in Net-Long positioning as @ Jan 21, 2020. Non-Commercials = 68K, Non-Reportables=25k. Net positions at 97% and 87% respectively. We may expect to see exhaustion as price already at a previous month's high. We may see price attempt to retest the supply zone before a reversal occurs. We will wait and watch out for price action on Tuesday to confirm the sell. This will coincide with the release of the CFTC report before it gets to the public
Kommentera:
"Most traders focus on the charts instead of the buying and selling of the people who move the charts."