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COT Energy Charts: Speculator Bets led by WTI Crude & Brent Crude Oil

Here are the latest charts and statistics for the Commitment of Traders (COT) data published by the Commodities Futures Trading Commission (CFTC).

The latest COT data is updated through Tuesday July 25th and shows a quick view of how large traders (for-profit speculators and commercial hedgers) were positioned in the futures markets.

Weekly Speculator Changes led by WTI Crude Oil

The COT energy market speculator bets were higher this week as four out of the six energy markets we cover had higher positioning this week while the other two markets had lower contracts.

Leading the gains for energy markets was WTI Crude Oil (19,097 contracts) with Brent Crude Oil (3,420 contracts), Heating Oil (3,106 contracts) and Gasoline (1,965 contracts) also showing positive weeks.

The energy markets leading the declines in speculator bets this week were Natural Gas (-1,359 contracts) with the Bloomberg Commodity Index (-522 contracts) also registering lower bets on the week.

The WTI Crude Oil speculative positioning has risen for four straight weeks and has added a total of +86,808 contracts to the current bullish spec position in just these past four weeks. The current speculator standing for WTI is now at the highest level in thirteen weeks, dating back to April 25th.

Data Snapshot of Commodity Market Traders | Columns Legend

Jul-25-2023	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,743,598	31	225,196	22	-250,976	80	25,780	31
Gold	476,176	25	173,639	53	-198,210	47	24,571	42
Silver	146,898	36	36,925	71	-49,718	34	12,793	37
Copper	234,713	70	1,159	32	-3,904	68	2,745	36
Palladium	16,760	100	-8,377	0	8,899	100	-522	10
Platinum	64,197	48	15,487	51	-20,441	51	4,954	34
Natural Gas	1,185,638	46	-97,121	33	70,972	68	26,149	42
Brent	135,185	8	-42,350	29	39,044	72	3,306	54
Heating Oil	324,610	46	24,498	72	-48,468	29	23,970	81
Soybeans	676,643	22	134,982	42	-116,876	56	-18,106	57
Corn	1,280,207	12	70,476	32	-6,966	75	-63,510	24
Coffee	180,118	3	8,495	36	-8,052	68	-443	7
Sugar	911,185	51	219,814	69	-251,397	33	31,583	43
Wheat	311,339	15	-20,555	52	27,401	51	-6,846	50

Strength Scores

Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is extreme bullish and below 20 is extreme bearish) show that the Bloomberg Commodity Index (82.3 percent) and the Heating Oil (72.4 percent) lead the energy category currently.

On the downside, WTI Crude Oil (21.8 percent) comes in at the lowest strength level currently and is followed by Brent Crude Oil (29.0 percent).

Strength Statistics:
WTI Crude Oil (21.8 percent) vs WTI Crude Oil previous week (17.0 percent)
Brent Crude Oil (29.0 percent) vs Brent Crude Oil previous week (22.2 percent)
Natural Gas (33.3 percent) vs Natural Gas previous week (33.8 percent)
Gasoline (50.8 percent) vs Gasoline previous week (47.5 percent)
Heating Oil (72.4 percent) vs Heating Oil previous week (66.5 percent)
Bloomberg Commodity Index (82.3 percent) vs Bloomberg Commodity Index previous week (84.3 percent)

Strength Trends

Strength Score Trends (or move index, calculates the 6-week changes in strength scores) show that WTI Crude Oil (17.6 percent) leads the past six weeks trends for energy this week. Brent Crude Oil (11.3 percent), Gasoline (10.7 percent) and Natural Gas (10.3 percent) fill out the top movers in the latest trends data.

The Bloomberg Commodity Index (-17.7 percent) leads the downside trend scores currently.

Strength Trend Statistics:
WTI Crude Oil (17.6 percent) vs WTI Crude Oil previous week (8.4 percent)
Brent Crude Oil (11.3 percent) vs Brent Crude Oil previous week (-6.6 percent)
Natural Gas (10.3 percent) vs Natural Gas previous week (12.3 percent)
Gasoline (10.7 percent) vs Gasoline previous week (16.6 percent)
Heating Oil (6.6 percent) vs Heating Oil previous week (0.2 percent)
Bloomberg Commodity Index (-17.7 percent) vs Bloomberg Commodity Index previous week (-15.6 percent)

Individual COT Market Charts:

WTI Crude Oil Futures:

The WTI Crude Oil Futures large speculator standing this week came in at a net position of 225,196 contracts in the data reported through Tuesday. This was a weekly increase of 19,097 contracts from the previous week which had a total of 206,099 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 21.8 percent. The commercials are Bullish-Extreme with a score of 80.3 percent and the small traders (not shown in chart) are Bearish with a score of 30.6 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend. The current action for the model is considered to be: New Buy – Long Position.

WTI Crude Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	20.1	36.8	5.0
– Percent of Open Interest Shorts:	7.2	51.2	3.5
– Net Position:	225,196	-250,976	25,780
– Gross Longs:	350,507	642,195	86,919
– Gross Shorts:	125,311	893,171	61,139
– Long to Short Ratio:	2.8 to 1	0.7 to 1	1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	21.8	80.3	30.6
– Strength Index Reading (3 Year Range):	Bearish	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	17.6	-15.6	-6.9

Brent Crude Oil Futures:

The Brent Crude Oil Futures large speculator standing this week came in at a net position of -42,350 contracts in the data reported through Tuesday. This was a weekly boost of 3,420 contracts from the previous week which had a total of -45,770 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 29.0 percent. The commercials are Bullish with a score of 71.9 percent and the small traders (not shown in chart) are Bullish with a score of 53.9 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend. The current action for the model is considered to be: New Buy – Long Position.

Brent Crude Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	11.0	51.8	6.4
– Percent of Open Interest Shorts:	42.3	22.9	3.9
– Net Position:	-42,350	39,044	3,306
– Gross Longs:	14,810	69,981	8,633
– Gross Shorts:	57,160	30,937	5,327
– Long to Short Ratio:	0.3 to 1	2.3 to 1	1.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	29.0	71.9	53.9
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	11.3	-12.1	2.9

Natural Gas Futures:

The Natural Gas Futures large speculator standing this week came in at a net position of -97,121 contracts in the data reported through Tuesday. This was a weekly lowering of -1,359 contracts from the previous week which had a total of -95,762 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 33.3 percent. The commercials are Bullish with a score of 67.8 percent and the small traders (not shown in chart) are Bearish with a score of 42.1 percent.

Price Trend-Following Model: Weak Downtrend

Our weekly trend-following model classifies the current market price position as: Weak Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

Natural Gas Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	20.7	40.0	5.7
– Percent of Open Interest Shorts:	28.9	34.0	3.5
– Net Position:	-97,121	70,972	26,149
– Gross Longs:	245,779	473,719	67,603
– Gross Shorts:	342,900	402,747	41,454
– Long to Short Ratio:	0.7 to 1	1.2 to 1	1.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	33.3	67.8	42.1
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	10.3	-6.5	-22.9

Gasoline Blendstock Futures:

The Gasoline Blendstock Futures large speculator standing this week came in at a net position of 58,751 contracts in the data reported through Tuesday. This was a weekly boost of 1,965 contracts from the previous week which had a total of 56,786 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 50.8 percent. The commercials are Bearish with a score of 46.1 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 82.1 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

Nasdaq Mini Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	30.5	41.4	6.6
– Percent of Open Interest Shorts:	14.5	60.3	3.7
– Net Position:	58,751	-69,173	10,422
– Gross Longs:	111,892	152,043	24,044
– Gross Shorts:	53,141	221,216	13,622
– Long to Short Ratio:	2.1 to 1	0.7 to 1	1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	50.8	46.1	82.1
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	10.7	-17.8	36.8

#2 Heating Oil NY-Harbor Futures:

The #2 Heating Oil NY-Harbor Futures large speculator standing this week came in at a net position of 24,498 contracts in the data reported through Tuesday. This was a weekly advance of 3,106 contracts from the previous week which had a total of 21,392 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 72.4 percent. The commercials are Bearish with a score of 29.3 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 81.4 percent.

Price Trend-Following Model: Weak Downtrend

Our weekly trend-following model classifies the current market price position as: Weak Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

Heating Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	15.5	45.1	17.1
– Percent of Open Interest Shorts:	8.0	60.1	9.7
– Net Position:	24,498	-48,468	23,970
– Gross Longs:	50,444	146,548	55,411
– Gross Shorts:	25,946	195,016	31,441
– Long to Short Ratio:	1.9 to 1	0.8 to 1	1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	72.4	29.3	81.4
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	6.6	-28.1	49.0

Bloomberg Commodity Index Futures:

The Bloomberg Commodity Index Futures large speculator standing this week came in at a net position of -6,173 contracts in the data reported through Tuesday. This was a weekly fall of -522 contracts from the previous week which had a total of -5,651 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 82.3 percent. The commercials are Bearish-Extreme with a score of 18.0 percent and the small traders (not shown in chart) are Bullish with a score of 55.3 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend. The current action for the model is considered to be: New Buy – Long Position.

Bloomberg Index Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	16.2	82.6	0.5
– Percent of Open Interest Shorts:	26.7	72.4	0.1
– Net Position:	-6,173	5,973	200
– Gross Longs:	9,524	48,544	279
– Gross Shorts:	15,697	42,571	79
– Long to Short Ratio:	0.6 to 1	1.1 to 1	3.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	82.3	18.0	55.3
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-17.7	18.0	-1.3

Article By InvestMacro – Receive our weekly COT Newsletter

*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) 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) as well as their open interest (contracts open in the market at time of reporting). See CFTC criteria here.

29 Jul

COT Soft Commodities Charts: Weekly Speculator Changes led by Corn & Soybeans

By InvestMacro

Here are the latest charts and statistics for the Commitment of Traders (COT) reports data published by the Commodities Futures Trading Commission (CFTC).

The latest COT data is updated through Tuesday July 25th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Weekly Speculator Changes led by Corn & Soybeans

The COT soft commodities markets speculator bets were higher this week as nine out of the eleven softs markets we cover had higher positioning while the other two markets had lower speculator contracts.

Leading the gains for the softs markets was Corn (50,606 contracts) with Soybeans (27,699 contracts), Sugar (23,508 contracts), Cotton (19,503 contracts), Wheat (18,148 contracts), Soybean Oil (12,416 contracts), Lean Hogs (1,048 contracts), Cocoa (1,406 contracts) and Soybean Meal (9,078 contracts) also showing positive weeks.

The markets with the declines in speculator bets this week were Coffee (-18,522 contracts) with Live Cattle (-9,538 contracts) also registering lower bets on the week.

Data Snapshot of Commodity Market Traders | Columns Legend

Jul-25-2023	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,743,598	31	225,196	22	-250,976	80	25,780	31
Gold	476,176	25	173,639	53	-198,210	47	24,571	42
Silver	146,898	36	36,925	71	-49,718	34	12,793	37
Copper	234,713	70	1,159	32	-3,904	68	2,745	36
Palladium	16,760	100	-8,377	0	8,899	100	-522	10
Platinum	64,197	48	15,487	51	-20,441	51	4,954	34
Natural Gas	1,185,638	46	-97,121	33	70,972	68	26,149	42
Brent	135,185	8	-42,350	29	39,044	72	3,306	54
Heating Oil	324,610	46	24,498	72	-48,468	29	23,970	81
Soybeans	676,643	22	134,982	42	-116,876	56	-18,106	57
Corn	1,280,207	12	70,476	32	-6,966	75	-63,510	24
Coffee	180,118	3	8,495	36	-8,052	68	-443	7
Sugar	911,185	51	219,814	69	-251,397	33	31,583	43
Wheat	311,339	15	-20,555	52	27,401	51	-6,846	50

Strength Scores led by Cocoa & Live Cattle

COT Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is Extreme-Bullish and below 20 is Extreme-Bearish) showed that Cocoa (100 percent) and Live Cattle (82 percent) lead the softs markets this week. Sugar (69 percent), Soybean Meal (61 percent) and Wheat (52 percent) come in as the next highest in the weekly strength scores.

On the downside, Lean Hogs (27 percent) and Corn (32 percent) come in at the lowest strength levels currently. The next lowest strength scores are the Coffee (36 percent) and the Cotton (37 percent).

Strength Statistics:
Corn (31.6 percent) vs Corn previous week (24.3 percent)
Sugar (68.6 percent) vs Sugar previous week (60.3 percent)
Coffee (36.1 percent) vs Coffee previous week (61.8 percent)
Soybeans (42.2 percent) vs Soybeans previous week (31.3 percent)
Soybean Oil (49.5 percent) vs Soybean Oil previous week (42.3 percent)
Soybean Meal (60.7 percent) vs Soybean Meal previous week (55.6 percent)
Live Cattle (81.7 percent) vs Live Cattle previous week (92.0 percent)
Lean Hogs (27.2 percent) vs Lean Hogs previous week (26.3 percent)
Cotton (37.3 percent) vs Cotton previous week (22.6 percent)
Cocoa (99.9 percent) vs Cocoa previous week (98.3 percent)
Wheat (52.2 percent) vs Wheat previous week (39.3 percent)

Wheat & Soybeans top the 6-Week Strength Trends

COT Strength Score Trends (or move index, calculates the 6-week changes in strength scores) showed that Wheat (47 percent) and Soybeans (28 percent) lead the past six weeks trends for soft commodities. Soybean Oil (23 percent), Cotton (20 percent) and Lean Hogs (19 percent) are the next highest positive movers in the latest trends data.

Coffee (-23 percent) leads the downside trend scores currently with Live Cattle (-18 percent), Sugar (-11 percent) and Cocoa (0 percent) following next with lower trend scores.

Strength Trend Statistics:
Corn (3.6 percent) vs Corn previous week (5.0 percent)
Sugar (-11.1 percent) vs Sugar previous week (-13.3 percent)
Coffee (-23.1 percent) vs Coffee previous week (-0.0 percent)
Soybeans (28.3 percent) vs Soybeans previous week (26.8 percent)
Soybean Oil (23.1 percent) vs Soybean Oil previous week (28.3 percent)
Soybean Meal (1.6 percent) vs Soybean Meal previous week (-3.4 percent)
Live Cattle (-18.3 percent) vs Live Cattle previous week (-0.8 percent)
Lean Hogs (19.2 percent) vs Lean Hogs previous week (24.2 percent)
Cotton (20.2 percent) vs Cotton previous week (1.5 percent)
Cocoa (-0.1 percent) vs Cocoa previous week (4.9 percent)
Wheat (47.1 percent) vs Wheat previous week (36.9 percent)

Individual Soft Commodities Markets:

CORN Futures:

The CORN large speculator standing this week resulted in a net position of 70,476 contracts in the data reported through Tuesday. This was a weekly lift of 50,606 contracts from the previous week which had a total of 19,870 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 31.6 percent. The commercials are Bullish with a score of 75.1 percent and the small traders (not shown in chart) are Bearish with a score of 23.9 percent.

Price Trend-Following Model: Weak Downtrend

Our weekly trend-following model classifies the current market price position as: Weak Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

CORN Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	22.8	48.6	8.9
– Percent of Open Interest Shorts:	17.3	49.2	13.9
– Net Position:	70,476	-6,966	-63,510
– Gross Longs:	291,631	622,624	114,321
– Gross Shorts:	221,155	629,590	177,831
– Long to Short Ratio:	1.3 to 1	1.0 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	31.6	75.1	23.9
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	3.6	-3.0	-7.6

SUGAR Futures:

The SUGAR large speculator standing this week resulted in a net position of 219,814 contracts in the data reported through Tuesday. This was a weekly boost of 23,508 contracts from the previous week which had a total of 196,306 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 68.6 percent. The commercials are Bearish with a score of 32.9 percent and the small traders (not shown in chart) are Bearish with a score of 43.5 percent.

Price Trend-Following Model: Uptrend

Our weekly trend-following model classifies the current market price position as: Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

SUGAR Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	33.3	43.6	8.6
– Percent of Open Interest Shorts:	9.2	71.2	5.1
– Net Position:	219,814	-251,397	31,583
– Gross Longs:	303,615	397,188	78,190
– Gross Shorts:	83,801	648,585	46,607
– Long to Short Ratio:	3.6 to 1	0.6 to 1	1.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	68.6	32.9	43.5
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-11.1	14.3	-20.4

COFFEE Futures:

The COFFEE large speculator standing this week resulted in a net position of 8,495 contracts in the data reported through Tuesday. This was a weekly decrease of -18,522 contracts from the previous week which had a total of 33,494 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 36.1 percent. The commercials are Bullish with a score of 67.9 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 7.3 percent.

Price Trend-Following Model: Uptrend

Our weekly trend-following model classifies the current market price position as: Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

COFFEE Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	23.4	47.0	3.7
– Percent of Open Interest Shorts:	18.7	51.4	3.9
– Net Position:	8,495	-8,052	-443
– Gross Longs:	42,190	84,606	6,662
– Gross Shorts:	33,695	92,658	7,105
– Long to Short Ratio:	1.3 to 1	0.9 to 1	0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	36.1	67.9	7.3
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-23.1	24.0	-19.8

SOYBEANS Futures:

The SOYBEANS large speculator standing this week resulted in a net position of 134,982 contracts in the data reported through Tuesday. This was a weekly increase of 27,699 contracts from the previous week which had a total of 107,283 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 42.2 percent. The commercials are Bullish with a score of 56.4 percent and the small traders (not shown in chart) are Bullish with a score of 57.5 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

SOYBEANS Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	29.3	48.4	7.0
– Percent of Open Interest Shorts:	9.3	65.7	9.7
– Net Position:	134,982	-116,876	-18,106
– Gross Longs:	198,146	327,696	47,428
– Gross Shorts:	63,164	444,572	65,534
– Long to Short Ratio:	3.1 to 1	0.7 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	42.2	56.4	57.5
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	28.3	-27.8	19.1

SOYBEAN OIL Futures:

The SOYBEAN OIL large speculator standing this week resulted in a net position of 54,043 contracts in the data reported through Tuesday. This was a weekly lift of 12,416 contracts from the previous week which had a total of 41,627 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 49.5 percent. The commercials are Bearish with a score of 48.3 percent and the small traders (not shown in chart) are Bullish with a score of 58.9 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

SOYBEAN OIL Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	20.9	53.9	7.3
– Percent of Open Interest Shorts:	9.6	67.7	4.8
– Net Position:	54,043	-66,223	12,180
– Gross Longs:	100,146	258,123	35,174
– Gross Shorts:	46,103	324,346	22,994
– Long to Short Ratio:	2.2 to 1	0.8 to 1	1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	49.5	48.3	58.9
– Strength Index Reading (3 Year Range):	Bearish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	23.1	-28.3	55.0

SOYBEAN MEAL Futures:

The SOYBEAN MEAL large speculator standing this week resulted in a net position of 106,329 contracts in the data reported through Tuesday. This was a weekly gain of 9,078 contracts from the previous week which had a total of 97,251 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 60.7 percent. The commercials are Bearish with a score of 38.1 percent and the small traders (not shown in chart) are Bullish with a score of 54.1 percent.

Price Trend-Following Model: Weak Downtrend

Our weekly trend-following model classifies the current market price position as: Weak Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SOYBEAN MEAL Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	25.6	36.8	9.7
– Percent of Open Interest Shorts:	4.0	62.8	5.2
– Net Position:	106,329	-128,326	21,997
– Gross Longs:	126,137	181,449	47,707
– Gross Shorts:	19,808	309,775	25,710
– Long to Short Ratio:	6.4 to 1	0.6 to 1	1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	60.7	38.1	54.1
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	1.6	-7.3	45.5

LIVE CATTLE Futures:

The LIVE CATTLE large speculator standing this week resulted in a net position of 95,306 contracts in the data reported through Tuesday. This was a weekly fall of -9,538 contracts from the previous week which had a total of 104,844 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 81.7 percent. The commercials are Bearish with a score of 22.4 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 16.1 percent.

Price Trend-Following Model: Uptrend

Our weekly trend-following model classifies the current market price position as: Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

LIVE CATTLE Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	44.5	29.5	8.0
– Percent of Open Interest Shorts:	15.9	54.0	12.0
– Net Position:	95,306	-82,121	-13,185
– Gross Longs:	148,543	98,408	26,761
– Gross Shorts:	53,237	180,529	39,946
– Long to Short Ratio:	2.8 to 1	0.5 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	81.7	22.4	16.1
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-18.3	22.4	-7.8

LEAN HOGS Futures:

The LEAN HOGS large speculator standing this week resulted in a net position of -3,013 contracts in the data reported through Tuesday. This was a weekly rise of 1,048 contracts from the previous week which had a total of -4,061 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 27.2 percent. The commercials are Bullish with a score of 71.7 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 90.3 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

LEAN HOGS Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	31.6	37.1	11.1
– Percent of Open Interest Shorts:	33.1	36.4	10.3
– Net Position:	-3,013	1,455	1,558
– Gross Longs:	63,698	74,774	22,377
– Gross Shorts:	66,711	73,319	20,819
– Long to Short Ratio:	1.0 to 1	1.0 to 1	1.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	27.2	71.7	90.3
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	19.2	-23.0	11.1

COTTON Futures:

The COTTON large speculator standing this week resulted in a net position of 37,984 contracts in the data reported through Tuesday. This was a weekly lift of 19,503 contracts from the previous week which had a total of 18,481 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 37.3 percent. The commercials are Bullish with a score of 58.7 percent and the small traders (not shown in chart) are Bullish with a score of 68.6 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

COTTON Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	35.7	46.0	8.3
– Percent of Open Interest Shorts:	16.1	70.0	3.8
– Net Position:	37,984	-46,650	8,666
– Gross Longs:	69,370	89,362	16,115
– Gross Shorts:	31,386	136,012	7,449
– Long to Short Ratio:	2.2 to 1	0.7 to 1	2.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	37.3	58.7	68.6
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	20.2	-21.6	30.7

COCOA Futures:

The COCOA large speculator standing this week resulted in a net position of 77,894 contracts in the data reported through Tuesday. This was a weekly increase of 1,406 contracts from the previous week which had a total of 76,488 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 99.9 percent. The commercials are Bearish-Extreme with a score of 1.0 percent and the small traders (not shown in chart) are Bearish with a score of 31.0 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

COCOA Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	40.9	27.5	3.7
– Percent of Open Interest Shorts:	19.2	50.2	2.7
– Net Position:	77,894	-81,340	3,446
– Gross Longs:	146,650	98,702	13,174
– Gross Shorts:	68,756	180,042	9,728
– Long to Short Ratio:	2.1 to 1	0.5 to 1	1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	99.9	1.0	31.0
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-0.1	1.0	-8.3

WHEAT Futures:

The WHEAT large speculator standing this week resulted in a net position of -20,555 contracts in the data reported through Tuesday. This was a weekly rise of 18,148 contracts from the previous week which had a total of -38,703 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 52.2 percent. The commercials are Bullish with a score of 50.8 percent and the small traders (not shown in chart) are Bearish with a score of 49.6 percent.

Price Trend-Following Model: Weak Downtrend

Our weekly trend-following model classifies the current market price position as: Weak Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

WHEAT Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	29.0	38.9	9.0
– Percent of Open Interest Shorts:	35.6	30.1	11.2
– Net Position:	-20,555	27,401	-6,846
– Gross Longs:	90,416	121,245	28,164
– Gross Shorts:	110,971	93,844	35,010
– Long to Short Ratio:	0.8 to 1	1.3 to 1	0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	52.2	50.8	49.6
– Strength Index Reading (3 Year Range):	Bullish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	47.1	-42.6	-45.0

Article By InvestMacro – Receive our weekly COT Newsletter

COT Updates Financial News Soft Commodities

28 Jul

The cryptocurrency market digest (BTC, SOL). Overview for 28.07.2023

By RoboForex.com

The BTC rate on Friday stood at approximately 29,229 USD.

Each new attempt by BTC to rise becomes increasingly difficult. The overall fundamental background appears quite calm, lacking spark. The technical picture is more pessimistic. According to seasonal cycles, the current phase is bearish.

Investors are unable to capitalise on the buying impulse in the US stock market due to decreased correlation with indices and stock exchanges. There is not enough news generated from the cryptocurrency market for a confident move into positive territory.

The cryptocurrency market capitalisation remains at the level of 1.180 trillion USD. The share of BTC has decreased to 48.2%, and the share of ETH reached 19.1%.

SOL has recovered after a decline in June

The value of the Solana (SOL) token has recovered after a 41% drop in June. The trigger for the sell-offs was the claims made by the US Securities and Exchange Commission (SEC) against the company. The SEC deemed SOL to be an unregistered security.

“Whales” are accumulating bitcoins

According to CryptoQuant, large holders of digital assets are accumulating coins while the market remains in a sideways range.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Cryptocurrencies Financial News

28 Jul

The Bank of Japan is taking the first small step towards normalizing monetary policy. ECB is not sure about further rate hikes

By JustMarkets

At yesterday’s stock market close, the Dow Jones Index (US30) closed down by 0.67%, while the S&P 500 Index (US500) fell by 0.64%. The NASDAQ Technology Index (US100) closed negative by 0.55% on Thursday.

The latest US GDP data showed that the economy grew by 2.4% for the second quarter after growing 2.0% in the first quarter. Analysts had expected growth of 1.8%. Gross Domestic Product increased due to solid consumer spending and robust business investment. Combined with other data showing stronger than expected durable goods orders and a decline in unemployment claims, boosted confidence that the Federal Reserve can curb inflation and avoid a recession.

Meta Platforms (META) rose more than 4% after the social media giant reported second-quarter guidance and results that beat Wall Street estimates, driven by strong advertising growth. UBS raised its target on META shares to $400 from $335. Shares of eBay (EBAY), meanwhile, fell by 10% after its earnings forecast for the current quarter missed analysts’ estimates and overshadowed better-than-expected second-quarter results.

Equity markets in Europe were mostly up yesterday. Germany’s DAX (DE40) rose by 1.70%, France’s CAC 40 (FR40) gained 2.05%, Spain’s IBEX 35 (ES35) added 1.08%, and the UK’s FTSE 100 (UK100) closed positive by 0.21%.

The European Central Bank raised interest rates by 25 basis points to 4.25% in line with expectations while emphasizing that inflation is expected to remain high for a longer period despite the recent decline. During the press conference, Lagarde emphasized the weaker economic outlook for the euro area economy in the near term but remained optimistic about a recovery in growth in the medium term. Lagarde remained evasive when asked about the possibility of a rate hike in September. This is a dovish sign, given that the ECB president has previously been quite hawkish when pushing for future rate hikes.

On Thursday, gold posted its sharpest one-day drop since late June, reacting to the US Federal Reserve getting back on the path of monetary tightening by announcing a 25 basis point rate hike in July and again pledging to stick to a hawkish policy to bring inflation to its long-term 2% target. Also influential was the European Central Bank’s quarter-point rate hike and a signal that the ECB may pause in September, a potentially dovish development that pushed the dollar higher against the euro, exacerbating gold’s decline.

Asian markets were predominantly rising yesterday. Japan’s Nikkei 225 (JP225) rose by 0.68%, China’s FTSE China A50 (CHA50) gained 0.20%, Hong Kong’s Hang Seng (HK50) ended the day up by 1.41%, and Australia’s S&P/ASX 200 (AU200) ended Thursday positive by 0.73%. At the open on Friday, Japan’s Nikkei 225 index (JP225) suffered sharp losses after somewhat aggressive statements from the Bank of Japan, while Chinese stocks posted gains on hopes of additional stimulus measures.

Japanese government bond yields rose sharply on Friday, hitting the top end of the Bank of Japan’s benchmark range. The BOJ kept interest rates ultra-low on Friday and said that while it will continue yield curve control (YCC) operations, it will manage the yield curve with “greater flexibility.” The statement said it is appropriate to enhance the sustainability of monetary policy easing under the current framework by conducting more flexible yield curve control and responding promptly to both upside and downside risks to economic activity and prices in Japan. The move marks a step toward potentially ending the ultra-soft monetary conditions that Japanese equities have enjoyed for nearly a decade.

Australian retail sales unexpectedly fell in June, suggesting that consumers are easing off in response to 12 interest rate hikes by the Reserve Bank of Australia (RBA). Sales fell by 0.8% from the previous month.

China’s top housing official has increased pressure on financial regulators and lenders to step up efforts to revive the country’s struggling real estate sector.

S&P 500 (F)(US500) 4,537.41 −29.34 (−0.64%)

Dow Jones (US30) 35,282.72 −237.40 (−0.67%)

DAX (DE40) 16,406.03 +274.57 (+1.70%)

FTSE 100 (UK100) 7,692.76 +15.87 (+0.21%)

USD Index 101.81 +0.93 (+0.92%)

Important events for today:

– Japan Tokyo Core CPI (m/m) at 02:30 (GMT+3);
– Japan BoJ Interest Rate Decision at 06:00 (GMT+3);
– Japan BoJ Monetary Policy Statement at 06:00 (GMT+3);
– Japan BoJ Outlook Report at 06:00 (GMT+3);
– Japan BoJ Press Conference at 09:00 (GMT+3);
– Germany Consumer Price Index (m/m) at 15:00 (GMT+3);
– Canada GDP (m/m) at 15:30 (GMT+3);
– US PCE Price index (m/m) at 15:30 (GMT+3);
– US Michigan Consumer Sentiment (m/m) at 17:00 (GMT+3).

By JustMarkets

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Economics & Fundamentals Financial News

27 Jul

Pay Attention to This Group of Investors (They Know More)

The stock market actions of corporate insiders is revealing

By Elliott Wave International

It stands to reason that executives of a corporation know more about the goings-on of their business than outsiders.

So, it’s wise to pay attention to their stock market actions regarding their own shares.

Yes, the stock market has been rising. As I write, the Dow Industrials is up for the eighth day in a row.

However, trends can turn on a dime, and if the action of insiders is a clue, that turn may be arriving sooner than many stock market participants anticipate.

Here are just a few Yahoo! Finance headlines from the past few weeks:

American Express Insiders Sold US$9.9m Of Shares Suggesting Hesitancy (July 17)
Possible Bearish Signals with Lockheed Martin Insiders Disposing Stock (July 12)
International Business Machines Insiders Sell US$5.6m Of Stock, Possibly Signaling Caution (July 4)

These are by no means all the corporations where insiders have been selling company shares. I just picked out three well-known names as examples.

The July Elliott Wave Financial Forecast, a monthly publication which covers major U.S. financial markets, discussed corporate insider selling and said:

Insiders may sell for various reasons, but one of them isn’t that they believe their firm’s share price is going higher.

That doesn’t mean that insiders are always right or that their market timing is perfect, but as the July Elliott Wave Financial Forecast also notes, it’s best not to ignore the actions of insiders. The publication also showed this chart and added:

There is one group of investors that is selling shares: insiders. … When insider block sales surged in the early months of [a big down wave], the August 2000 Elliott Wave Financial Forecast noted, “Insiders want out.” As the bear market of 2000-2009 illustrated, when insiders sell, it’s best not to pooh-pooh their stance.

In addition to the Insider Transaction Ratio, also pay close attention to the stock market’s Elliott wave structure.

If you’re unfamiliar with Elliott wave analysis, or simply need a refresher, here’s a quote from the Wall Street classic book, Elliott Wave Principle: Key to Market Behavior, by Frost & Prechter:

The primary value of the Wave Principle is that it provides a context for market analysis. This context provides both a basis for disciplined thinking and a perspective on the market’s general position and outlook. At times, its accuracy in identifying, and even anticipating, changes in direction is almost unbelievable.

Enjoy free access to the online version of Elliott Wave Principle: Key to Market Behavior by becoming a member of Club EWI, the world’s largest Elliott wave educational community. Club EWI is free to join and allows you complimentary access to a wealth of Elliott wave resources on investing and trading.

Just follow this link to get started: Elliott Wave Principle: Key to Market Behavior — get free and unlimited access.

This article was syndicated by Elliott Wave International and was originally published under the headline Pay Attention to This Group of Investors (They Know More). EWI is the world’s largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

Financial News Stock Market News

27 Jul

Green Tech Co. Signs Letter of Intent to Sell First Solar Tower

Source: Streetwise Reports (7/25/23)

For this green tech company looking to save space on solar power installations, the agreement is proof that its technology is commercially legitimate.

Green tech company Three Sixty Solar (VSOL:NEO;VSOLF:OTC) announced it had signed a non-binding letter of intent for the sale and installation of its first solar tower.

The agreement with Cattail Crossing Golf and Winter Club in Sturgeon County, Alberta, indicates the club’s intent to install a Three Sixty Solar tower to generate power for the golf course and the clubhouse.

Three Sixty’s solar towers build up instead of out to save space, rising vertically instead of covering acres of ground horizontally, leaving up to 80% to 90% more room for other economic or preservation purposes.

“They have substantial power needs and don’t want to give up their land because, obviously, that takes up space they need for the course,” Three Sixty Solar Chief Executive Officer Brian Roth told Streetwise Reports.

For Three Sixty, it’s an important step and a proof of concept for the technology, he said.

Three Sixty’s technology is a “big deal” because most solar farms are in rural areas, leading to energy leakage getting the electricity across distances and to market, Technical Analyst Clive Maund wrote.

“The biggest thing is just as we work through the commercialization process, it’s proof that it’s commercially legitimate and that people are willing to pay and move forward on projects that are not just demonstrations or R&D funded,” Roth said.

Three Sixty’s technology is a “big deal” because most solar farms are in rural areas, leading to energy leakage getting the electricity across distances and to market, Technical Analyst Clive Maund wrote.

In addition, the vast areas of land consumed by these solar arrays generally mean that it can’t be used for anything else, so there is a serious opportunity cost loss as well, he said.

The company’s vertical tower arrays can be built virtually anywhere, including in cities, and they take up little space.

“Three Sixty Solar’s towers will eventually render all these vast acreages of solar panels all over the place obsolete,” Maund wrote. “This being so, its stock has the potential to appreciate by many thousands of percent.”

‘Ideal Solution’ Does Not Sacrifice Land

According to the letter of intent, the parties plan to begin a feasibility study on the site as quickly as possible with the goal of reaching a binding purchase order by Aug. 31.

According to a Stratistics MRC report, the global market for solar energy accounted for US$76 billion in 2020 and is forecasted to reach US$296 billion by 2028, growing at a compound annual growth rate (CAGR) of 18.5%.

Cattail Crossing owner Mark Beck said the club had been looking for ways to add renewable energy to the operation, but he couldn’t find anything suitable for the land.

“The solar towers offered by Three Sixty are such a unique approach that we can easily make it fit and generate power for our irrigation systems, cart charging, and more,” Beck said. “We are looking forward to working with Three Sixty and becoming an advocate for the solar tower solution to our friends in the golf community.”

Three Sixty’s solar technology is an “ideal solution” for the club “to provide power for operations without sacrificing the land they need for the course and clubhouse,” Roth said.

The Catalyst: Targeting Net Zero Emissions

Driving the growth is an increase in pollution, a surge in rooftop applications, and increased adoption in agriculture, the report said.

Solar power uses photovoltaic cells and other technologies to capture the sun’s radiant energy, which is efficient and renewable and mitigates environmental risks coming from options creating greenhouse gas emissions.

According to the Solar Energy Industries Association, the cost to install the equipment has dropped by 50% over the last decade, leading to the deployment of thousands of new systems in new markets.

Governments are giving big incentives, as well. Canada is targeting net zero emissions by 2050 and has launched a CA$964 million program, Three Sixty Solar said. The United States Inflation Reduction Act commits US$370 billion to fund green energy, and the European Union has an energy target of at least 32% from solar by 2030. The European Green New Deal envisions a climate-neutral continent by 2050.

Countries have been “throwing record amounts of money at these types of technologies and trying to green our electricity grid,” Roth said. “There’s just a huge opportunity to clean up our electricity production while . . . being very cost competitive with the older technologies.”

According to a Stratistics MRC report, the global market for solar energy accounted for US$76 billion in 2020 and is forecasted to reach US$296 billion by 2028, growing at a compound annual growth rate (CAGR) of 18.5%.

Demonstration Tower Declared a Success

There are three models of towers, which soar from 40 feet to 120 feet tall and produce as much as 250 kilowatts per tower, the company said. They are manufactured in Canada and the U.S., approved by a U.S.-licensed engineer, and support many solar panel brands.

A demonstration tower in Kelowna, British Columbia that was in operation for 16 months was declared a success after it survived a major windstorm with gusts as high as 84 mph, intense rain and hail, and a snowstorm with no structural or panel damage.

The vertical positioning of the panels on the tower also prevented snow from covering the panels, which often inhibits power production in flatter, ground-mounted installations, the company said.

The Cattail Crossing tower will be proof that the solar towers are commercially viable, Roth said.

“And it will be an opportunity for us to go through the delivery process and continue to refine that,” he said.

The tower’s design enables it to be built with different materials to survive threats in different environments, such as surviving earthquakes in California or surviving hurricanes in Florida.

Power production and add-ons like telecommunications arrays and EV charging stations are opportunities to create more recurring revenue from the towers, Roth said.

Three Sixty Solar has applied for patents with the World Patent Office and others in North America, the European Union, and Africa.

Ownership and Share Structure

According to the company, about 21% of Three Sixty Solar is held by management and insiders. The CEO Roth owns 3.43%, founder and Director Peter Sherba owns about 30%, and Director Scott McLeod owns about 0.21%, Reuters said.

About 28% is held by strategic investors, and the rest, about 51%, is retail.

Three Sixty Solar’s market cap is CA$20.23 million, with about 43.5 million shares outstanding. It trades in a 52-week range of CA$1.29 and CA$0.51.

Important Disclosures:

Three Sixty Solar Ltd. has a consulting relationship with an affiliate of Streetwise Reports, and pays a monthly consulting fee between US$8,000 and US$20,000.
As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Three Sixty Solar Ltd.
Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

For additional disclosures, please click here.

Energy Financial News

27 Jul

Japanese Candlesticks Analysis 27.07.2023 (XAUUSD, NZDUSD, GBPUSD)

By RoboForex.com

XAUUSD, “Gold vs US Dollar”

Gold has formed a Shooting Star reversal pattern near the resistance level. Currently, the instrument could go by the reversal signal in a descending wave. The correction target might be 1965.50. Upon testing the support, the price might rebound and continue the uptrend. However, the quotes could rise to 1990.00 without a correction.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 0.6300. Upon breaking the resistance, the quotes might have a chance to continue the uptrend. However, a correction to 0.6190 might develop and an uptrend might follow the pullback.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 1.3055. However, the price might correct to 1.2895 and continue the uptrend following the pullback.

Article By RoboForex.com

Financial News Forex and Currency News

27 Jul

The Fed raises rates by 25 bps, keeping the bias toward further action. The ECB intends to raise rates until the fall

By JustMarkets

At yesterday’s stock market close, the Dow Jones Index (US30) increased by 0.23%, while the S&P 500 Index (US500) was down by 0.02%. The NASDAQ Technology Index (US100) closed positive by 0.12% on Wednesday.

The US Central Bank raised rates by 25 bps to 5.50%, the highest in 22 years. But the market was fully ready for such a decision, so there were no surprises here. The main focus of investors was directed to the FOMC press conference.

The main theses of the Fed Chairman Jerome Powell’s speech:

Core inflation remains high (current Core CPI 4.8%);
The FOMC is committed to returning inflation to the 2.0% target to achieve price stability (current CPI 3.0%);
Inflation is not projected to reach the 2.0% target until 2025;
Another rate hike at the next meeting is possible, but it will depend on incoming economic data;
A rate cut this year is not the baseline scenario;
The FOMC is no longer forecasting a recession in the US;
Asset reduction (quantitative tightening – QT) will continue.

According to the FedWatch Tool, there is only a 22% chance that the US Fed will raise interest rates in September. For investors, this is a green flag for further growth of stock indices.

Equity markets in Europe were mostly down yesterday. Germany’s DAX (DE40) fell by 0.49%, France’s CAC 40 (FR40) lost 1.35%, Spain’s IBEX 35 (ES35) rose by 0.85%, and the UK’s FTSE 100 (UK100) closed negative yesterday by 0.19%.

Another drop in Germany’s leading indicator, the IFO index, confirms that the economy has returned to a downtrend. According to economists, the German economy is stuck in the zone between stagnation and recession (so-called “slow recession”) and is in dire need of a new reform program. China’s weaker-than-expected opening, the looming recession in the US and Europe, and the continued tightening of monetary policy seem to be taking their toll on German company sentiment. Germany is likely to face a longer period of subdued growth – the current valuation component is as low as it was at the end of 2020, with both the current indicators and the expectations component down.

The ECB will hold a monetary policy meeting today. Analysts expect the ECB to raise rates by 0.25%. However, the focus will be on the Central Bank’s plans for September, and markets are divided on whether there will be another rate hike or whether the ECB will hit the pause button. ECB President Christine Lagarde is likely to reiterate that future decisions will be based on incoming economic data. Last time the ECB said that inflation is projected to stay too high for too long, so given the strong labor market, there is room for the ECB to raise rates further.

The Energy Information Administration (EIA) reported yesterday a 600,000 barrel drop in US crude oil inventories. Oil prices rose in Asian trading on Thursday, recovering most of the previous session’s losses. Analysts believe that there are concerns in the oil market about the reliability of oil supplies in sufficient volume. Oil prices are therefore expected to rise in the coming months, following tensions in global markets after supply cuts by the world’s largest producers.

Asian markets were mostly down yesterday. Japan’s Nikkei 225 (JP225) was down by 0.04%, China’s FTSE China A50 (CHA50) decreased by 0.04%, Hong Kong’s Hang Seng (HK50) lost 0.36% on the day, while Australia’s S&P/ASX 00 (AU200) was positive by 0.85% on Wednesday. But most Asian stocks returned to the upside on Thursday as interest in risk-oriented markets was boosted by the Federal Reserve downplaying the likelihood of a US recession this year.

While aggressive interest rate hikes in the US appear to be nearing an end, Japan’s central bank faces a tough decision tomorrow on whether to take another step towards phasing out its controversial yield control program. Although inflation has been holding above its 2% target for more than a year, BOJ Governor Kazuo Ueda has vowed to keep monetary policy soft until he is confident the economy can withstand global headwinds and allow companies to continue raising wages next year. The BOJ is expected to keep the policy rate at minus 0.1% and maintain its yield curve control (YCC) targets at the two-day meeting that ends on Friday. However, the board may discuss making minor policy changes, such as widening the range of premiums around the 10-year yield target, if it feels the costs of YCC are starting to outweigh the benefits.

S&P 500 (F)(US500) 4,566.75 −0.71 (−0.016%)

Dow Jones (US30) 35,520.12 +82.05 (+0.23%)

DAX (DE40) 16,131.46 −80.13 (−0.49%)

FTSE 100 (UK100) 7,676.89 −14.91 (−0.19%)

USD Index 101.01 −0.34 (−0.33%)

Important events for today:

– Eurozone ECB Interest Rate Decision at 15:15 (GMT+3);
– Eurozone ECB Monetary Policy Statement at 15:15 (GMT+3);
– US Core Durable Goods Orders (m/m) at 15:30 (GMT+3);
– US Initial Jobless Claims (w/w) at 15:30 (GMT+3);
– US GDP (q/q) at 15:30 (GMT+3);
– Eurozone ECB Press Conference at 15:45 (GMT+3);
– US Pending Home Sales (m/m) at 17:00 (GMT+3);
– US Natural Gas Storage (w/w) at 17:30 (GMT+3).

By JustMarkets

Economics & Fundamentals Financial News

26 Jul

AUD remains highly volatile. Overview for 26.07.2023

By RoboForex.com

The Australian dollar, paired with the US dollar, is once again facing pressure. The current AUDUSD quote is 0.6759.

The Aussie’s volatility is drawing attention. On one hand, a strong US dollar exerts pressure on the AUD. On the other hand, China is sending quite positive signals.

Today’s statistics revealed that inflation in Australia for the second quarter declined to 5.4% year-over-year. On a quarterly basis, the indicator rose by 0.8% following a 1.4% increase from January to March this year. The easing of inflationary pressure is a positive signal. The Reserve Bank of Australia is likely to acknowledge this at its next meeting and keep the interest rate unchanged. The Australian dollar is reacting precisely to this development.

China’s readiness to stimulate its economy is favourable for Australia. As Australia’s primary trading and economic partner, all positive news coming from China is also encouraging for the AUD.

Article By RoboForex.com

Financial News Forex and Currency News

26 Jul

Technology giants continue to bet on artificial intelligence. The IMF provided new economic forecasts

By JustMarkets

At yesterday’s stock market close, the Dow Jones Index (US30) increased by 0.07%, while the S&P 500 Index (US500) added 0.28%. The NASDAQ Technology Index (US100) closed positive by 0.61% on Tuesday.

The US consumer confidence rose to a two-year high in July on the back of a continued robust labor market and lower inflation, improving the economy’s near-term outlook. The Consumer Confidence Index jumped to 117 in July from 110.1 in June. That’s the highest level in two years. But consumers still fear a recession next year after the Federal Reserve sharply raised interest rates.

Microsoft (MSFT), beating Wall Street forecasts for fiscal quarter revenue and profit Tuesday, laid out an aggressive spending plan to meet the demand for new artificial intelligence services. The company’s spending surged as it built new data centers to support artificial intelligence, while its capital expenditures will continue to rise. The company’s stock fell about 4% on the report. Alphabet (GOOG) for the second quarter exceeded Wall Street’s expectations. Alphabet’s results were driven by robust demand for cloud services and an uptick in advertising. The company’s shares jumped by 8% in after-hours trading. Snap (SNAP) yesterday reported weaker-than-analysts-expected third-quarter guidance as it has to compete with tech giants in advertising, sending shares down -18%. The Snapchat app attracts hundreds of millions of users thanks to its simple photo filters and a new chatbot with artificial intelligence. However, the company has struggled to consistently grow revenue and catch up with competitors.

The International Monetary Fund on Tuesday slightly raised its global growth estimates for 2023, given robust economic activity in the first quarter, but warned that persistent challenges were worsening the medium-term outlook. The IMF now forecasts global real GDP growth at 3.0% in 2023, up 0.2% from its April forecast, but left its 2024 forecast unchanged, also at plus 3.0%.

Equity markets in Europe traded flat yesterday. Germany’s DAX (DE40) rose by 0.13%, France’s CAC 40 (FR40) fell by 0.16%, Spain’s IBEX 35 (ES35) declined by 0.38%, and the UK’s FTSE 100 (UK100) closed up by 0.17%.

Goldman Sachs (GS) lowered its 2023 eurozone growth forecast following weaker economic activity data.

The Bank of England on Tuesday forecast the Bank’s net loss will be just over 150 billion pounds ($193 billion) over the next ten years as it winds down its quantitative easing (QE) program, up from the 100 billion pounds forecast in April. These losses will have to be financed by the government at a time when public finances are already under pressure from rising interest rates and inflation.

Asian markets were predominantly up yesterday. Japan’s Nikkei 225 (JP225) lost 0.06%, China’s FTSE China A50 (CHA50) jumped by 3.41%, Hong Kong’s Hang Seng (HK50) jumped by 4.10% on the day, and Australia’s S&P/ASX 200 (AU200) was positive by 0.46% on Tuesday. Senior Chinese officials said yesterday they would take additional measures to support the economy, which in turn sparked a sharp rally in local stocks.

Australia’s inflation rate continues to decline. For the last month, the annual consumer price index decreased from 5.6% to 5.4% (forecast 5.4%). Analysts believe that this decline should be enough to keep the Reserve Bank of Australia (RBA) from another rate hike in August. But according to economists, it will be much more difficult to reduce inflation further, and it is very likely that the RBA will make another rate hike in September.

The IMF forecasts growth in Japan’s economy but warns of inflationary pressures. Japan’s economy is expected to grow by 1.4% in 2023, faster than the 1.0% growth last year, as the lifting of pandemic restrictions stimulates consumption. IMF economists believe Japan’s ultra-soft monetary policy will remain accommodative in the near term, but the Bank of Japan should be ready to start raising interest rates given inflation risks.

S&P 500 (F)(US500) 4,567.46 +12.82 (+0.28%)

Dow Jones (US30) 35,438.07 +26.83 (+0.076%)

DAX (DE40) 16,211.59 +20.64 (+0.13%)

FTSE 100 (UK100) 7,691.80 +13.21 (+0.17%)

USD Index 101.29 -0.06 (-0.06%)

Important events for today:

– German Ifo Business Climate (m/m) at 11:00 (GMT+3);
– US CB Consumer Confidence (m/m) at 17:00 (GMT+3).
– German Ifo Business Climate (m/m) at 11:00 (GMT+3);
– US CB Consumer Confidence (m/m) at 17:00 (GMT+3).
– German Ifo Business Climate (m/m) at 11:00 (GMT+3);
– US CB Consumer Confidence (m/m) at 17:00 (GMT+3).

By JustMarkets

Economics & Fundamentals Financial News

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