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Commodities · 11 November 2026
WTI crude's bounce on 11 November is occurring against a managed-money net long still in the 94.9th…
WTI crude's bounce on 11 November is occurring against a managed-money net long still in the 94.9th percentile of its three-year range despite four straight weeks of reduction, leaving the rally more likely to be short-covering than fresh conviction unless the next COT report shows the long stabilizing or rising.
- What would prove it wrong
- The Commitments of Traders report covering the week to 10 November shows WTI's managed-money net long stabilizing or rising, indicating the deleveraging has concluded and fresh buying has returned.
- Review condition
- the Commitments of Traders report covering the week to 10 November 2026, expected around 17 November 2026: whether WTI's managed-money net long fell further or stabilized/rose
- Status
- Latest publication in category
A dated research thesis and its assessment. This is not portfolio performance or an investment recommendation.