Variety of merchants net-short has decreased by 5.12% from final week. SYMBOL
Variety of merchants net-short has decreased by 5.12% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BEARISH |
90.29% |
9.71% |
16.16%
51.59% |
-16.80%
-5.12% |
11.86%
43.27% |
Oil – US Crude: Retail dealer information reveals 90.29% of merchants are net-long with the ratio of merchants lengthy to quick at 9.30 to 1. Our information reveals merchants at the moment are at their most net-long Oil – US Crude since Feb 10 when Oil – US Crude traded close to 5,035.30. The variety of merchants net-long is 16.16% larger than yesterday and 51.59% larger from final week, whereas the variety of merchants net-short is 16.80% decrease than yesterday and 5.12% 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.
Merchants are additional net-long than yesterday and final week, and the mixture of present sentiment and up to date adjustments provides us a stronger Oil – US Crude-bearish contrarian buying and selling bias.