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%||
of clients are net long.
of clients are net short.
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.