Variety of merchants net-short has decreased by 29.55% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
Oil – US Crude |
BEARISH |
50.21% |
49.79% |
19.96%
24.80% |
-9.53%
-29.55% |
3.21%
-9.83% |
Oil – US Crude: Retail dealer information exhibits 50.21% of merchants are net-long with the ratio of merchants lengthy to brief at 1.01 to 1. The truth is, merchants have remained net-long since Dec 09 when Oil – US Crude traded close to 4,590.60, value has moved 0.95% increased since then. The variety of merchants net-long is 19.96% increased than yesterday and 24.80% increased from final week, whereas the variety of merchants net-short is 9.53% decrease than yesterday and 29.55% decrease from final week.
We usually take a contrarian view to crowd sentiment, and the actual fact merchants are net-long suggests Oil – US Crude costs could proceed to fall.
Our information exhibits merchants at the moment are net-long Oil – US Crude for the primary time since Dec 09, 2020 when Oil – US Crude traded close to 4,590.60. Merchants are additional net-long than yesterday and final week, and the mix of present sentiment and up to date modifications offers us a stronger Oil – US Crude-bearish contrarian buying and selling bias.