Variety of merchants net-short has decreased by 18.54% from final week. SYMBOL
Variety of merchants net-short has decreased by 18.54% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
Oil – US Crude |
BEARISH |
50.27% |
49.73% |
15.78%
12.51% |
-15.48%
-18.54% |
-2.20%
-5.42% |
Oil – US Crude: Retail dealer information exhibits 50.27% of merchants are net-long with the ratio of merchants lengthy to brief at 1.01 to 1. In actual fact, merchants have remained net-long since Feb 01 when Oil – US Crude traded close to 5,402.00, worth has moved 9.90% greater since then. The variety of merchants net-long is 15.78% greater than yesterday and 12.51% greater from final week, whereas the variety of merchants net-short is 15.48% decrease than yesterday and 18.54% decrease from final week.
We sometimes take a contrarian view to crowd sentiment, and the very 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 Feb 01, 2021 when Oil – US Crude traded close to 5,402.00. Merchants are additional net-long than yesterday and final week, and the mixture of present sentiment and up to date modifications offers us a stronger Oil – US Crude-bearish contrarian buying and selling bias.