Little off topic but sort of related.. I guess.
Oil market composition as of April 2.Speculators net long 292k contracts. Highest net long since week ending October 16, 2018.Large specs (futures funds, hedge funds, etc) net long 286k. Most long since week ending October 9, 2018.Small specs are only long 5.9k. Least long since week ending Jan 29.Total open interest, 1.98 mln. This is low. No one in this market. I think small specs have to get more long before a top.
