Number of traders net-short has decreased by 16.63% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
Gold |
BEARISH |
87.94% |
12.06% |
6.48%
4.12% |
-27.19%
-16.63% |
0.85%
1.09% |
Gold: Retail trader data shows 87.94% of traders are net-long with the ratio of traders long to short at 7.29 to 1. Our data shows traders are now at their most net-long Gold since May 19 when Gold traded near 1,841.76. The number of traders net-long is 6.48% higher than yesterday and 4.12% higher from last week, while the number of traders net-short is 27.19% lower than yesterday and 16.63% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Gold prices may continue to fall.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Gold-bearish contrarian trading bias.
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