Oil – US Crude IG Client Sentiment: Our data shows traders are now at
Number of traders net-short has decreased by 33.49% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BEARISH |
77.59% |
22.41% |
5.68%
25.87% |
-11.27%
-33.49% |
1.34%
4.88% |
Oil – US Crude: Retail trader data shows 77.59% of traders are net-long with the ratio of traders long to short at 3.46 to 1. Our data shows traders are now at their most net-long Oil – US Crude since Aug 23 when Oil – US Crude traded near 6,315.10. The number of traders net-long is 5.68% higher than yesterday and 25.87% higher from last week, while the number of traders net-short is 11.27% lower than yesterday and 33.49% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Oil – US Crude prices may continue to fall.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Oil – US Crude-bearish contrarian trading bias.
Read More: Oil – US Crude IG Client Sentiment: Our data shows traders are now at