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Number of traders net-short has decreased by 42.65% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BEARISH |
96.72% |
3.28% |
3.33%
11.13% |
-30.36%
-42.65% |
1.71%
7.81% |
Silver: Retail trader data shows 96.72% of traders are net-long with the ratio of traders long to short at 29.45 to 1. Our data shows traders are now at their most net-long Silver since Dec 28 when Silver traded near 23.00. The number of traders net-long is 3.33% higher than yesterday and 11.13% higher from last week, while the number of traders net-short is 30.36% lower than yesterday and 42.65% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Silver 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 Silver-bearish contrarian trading bias.
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