Number of traders net-short has increased by 1.79% from last week. SYMBOL TRADING BIAS NET-LONG% NET-SHORT% CHANGE IN LONGS CHANGE IN SHORTS
Number of traders net-short has increased by 1.79% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
Oil – US Crude |
BULLISH |
49.68% |
50.32% |
-4.61%
-10.55% |
13.10%
1.79% |
3.55%
-4.74% |
Oil – US Crude: Retail trader data shows 49.68% of traders are net-long with the ratio of traders short to long at 1.01 to 1. In fact, traders have remained net-short since Sep 03 when Oil – US Crude traded near 6,969.90, price has moved 0.15% lower since then. The number of traders net-long is 4.61% lower than yesterday and 10.55% lower from last week, while the number of traders net-short is 13.10% higher than yesterday and 1.79% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests Oil – US Crude prices may continue to rise.
Our data shows traders are now net-short Oil – US Crude for the first time since Sep 03, 2021 00:00 GMT when Oil – US Crude traded near 6,969.90. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Oil – US Crude-bullish contrarian trading bias.
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