Number of traders net-short has decreased by 37.81% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| Oil – US Crude | BEARISH | 90.57% | 9.43% |
10.31% Daily 37.15% Weekly |
-18.99% Daily -37.81% Weekly |
6.67% Daily 23.15% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | 10% | -19% | 7% |
| Weekly | 37% | -38% | 23% |
Oil – US Crude: Retail trader data shows 90.57% of traders are net-long with the ratio of traders long to short at 9.60 to 1. Our data shows traders are now at their most net-long Oil – US Crude since Dec 12 when Oil – US Crude traded near 68.64. The number of traders net-long is 10.31% higher than yesterday and 37.15% higher from last week, while the number of traders net-short is 18.99% lower than yesterday and 37.81% 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.
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