A key market is now in serious trouble as banks have established near all-time record short positions.

Commercials Near All-Time Record Short Positions In Oil
Below you can see the commercial short positions in the crude oil market are now close to an all-time record as the commercials have been dramatically increasing their short bets as the price of oil has rallied (see remarkable chart below).

In sharp contrast, look at the commercial short positions in the gold market…

Commercial short positions have been dramatically reduced as they have been covering their shorts as the price of gold has declined for seven straight weeks (see chart below).

The bottom line is that both of these markets may be near major reversals.  Oil will be particularly interesting to watch as the commercials are really piling on the shorts into the rally in crude….more here