NG COT DATA:
Open Interest Down
Commercial Short down a bit. Short delta 936,667 contracts.
Speculator Longs down a bit. Delta still heavily favors longs side.
Banks New data. Longs increased and shorts decreased.
Probably explains the NG run we had last week from 2.90 to 3.08..
COT data is reactive not proactive one week after the fact. Although we are no longer looking at CDD and the RSI still has room to run. It would provide a perfect time to squeeze the hell out of all the shorts. I sold my 22.35 @ 22.55 before market close. Still holding small lot @ 22.80sh. Im not buying another share of DGAZ until I see clear direction after report. If a squeeze occurs is going to be violent! Here's another perspective with the Fibs: