Note: My approach for analyzing CoT data, to reveal how different types of traders are positioned in the futures markets, is outlined here. If you missed it, give the article a read to see the method behind my analysis. All data and images in this article come from my website.
This is the 42nd weekly update that outlines how traders are positioned and how that positioning has recently changed. I break down the updates by asset class, so let's get started.
Commodities
Positioning is extreme in natural gas (UNG) futures. Producers are extremely net short, locking in currently high prices for their future production. On the other side of the trade are money managers, who are more net long than they've ever been in the past five years.
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Last week was the first week in a long time that money managers became more bullish on…
