Number of traders net-short has decreased by 42.43% from last week.SYMBOLTRADING BIASNET-LONG%NET-SHORT%CHANGE IN LONGSCHANGE IN SHORTSCHANGE IN OIOi
Number of traders net-short has decreased by 42.43% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| Oil – US Crude | BEARISH | 84.81% | 15.19% |
15.71% Daily 60.19% Weekly |
-28.34% Daily -42.43% Weekly |
5.83% Daily 26.05% Weekly |
Oil – US Crude: Retail trader data shows 84.81% of traders are net-long with the ratio of traders long to short at 5.58 to 1. Our data shows traders are now at their most net-long Oil – US Crude since Sep 27 when Oil – US Crude traded near 77.23. The number of traders net-long is 15.71% higher than yesterday and 60.19% higher from last week, while the number of traders net-short is 28.34% lower than yesterday and 42.43% 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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