WTI Crude broke back above $53 (twice) this morning (having tested down to $50 on Friday) following what BofA calls "the strongest pace of buying by hedge funds since the selloff began." But as the US equity market opened, sellers re-appeared...
[3]
BofA reports...
Large specs bought Crude contracts for a second week increasing net long positioning.
The pace of buying was strongest in six months since the selloff in June 2014 began.
[4]
Positioning remains stretched to the downside and both MAA and technicals indicate buying should continue.
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