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How to use the CFTC weekly COT report

The COT report can be extremely confusing for novice traders, as the data is presented in several different formats and in addition of course, the CFTC have recently changed the reporting categories in an attempt to provide further transparency in the futures market. Whilst this was a welcome change to the old format of the reports, it has, in my opinion, provided yet another layer of confusion for those traders who use the COT data regularly, so in order to try to explain the simple approach that I use, I’ve recorded this short video which I hope you will find useful in using the COT report as a broad gauge of market sentiment, whether you’re trading in commodities or currencies.