Number of traders net-short has increased by 12.59% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
---|---|---|---|---|---|---|
Oil – US Crude | BULLISH | 34.95% | 65.05% |
-9.36% Daily -3.19% Weekly |
8.88% Daily 12.59% Weekly |
1.73% Daily 6.52% Weekly |
Change in | Longs | Shorts | OI |
Daily | -9% | 7% | 1% |
Weekly | -1% | 10% | 6% |
Oil – US Crude: Retail trader data shows 34.95% of traders are net-long with the ratio of traders short to long at 1.86 to 1. Our data shows traders are now at their least net-long Oil – US Crude since Aug 10 when Oil – US Crude traded near 82.39. The number of traders net-long is 9.36% lower than yesterday and 3.19% lower from last week, while the number of traders net-short is 8.88% higher than yesterday and 12.59% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests Oil – US Crude prices may continue to rise.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Oil – US Crude-bullish contrarian trading bias.
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