Variety of merchants net-short has elevated by 13.81% from final week. SYMBOL
Variety of merchants net-short has elevated by 13.81% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
Oil – US Crude |
BULLISH |
31.65% |
68.35% |
-34.82%
-22.35% |
30.46%
13.81% |
-0.94%
-0.81% |
Oil – US Crude: Retail dealer information reveals 31.65% of merchants are net-long with the ratio of merchants quick to lengthy at 2.16 to 1. Our information reveals merchants at the moment are at their least net-long Oil – US Crude since Jan 06 when Oil – US Crude traded close to 5,008.80. The variety of merchants net-long is 34.82% decrease than yesterday and 22.35% decrease from final week, whereas the variety of merchants net-short is 30.46% increased than yesterday and 13.81% increased from final week.
We sometimes take a contrarian view to crowd sentiment, and the actual fact merchants are net-short suggests Oil – US Crude costs could proceed to rise.
Merchants are additional net-short than yesterday and final week, and the mix of present sentiment and up to date adjustments provides us a stronger Oil – US Crude-bullish contrarian buying and selling bias.
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