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Oil - US Crude IG Client Sentiment: Our data shows traders are now net-long Oil - US Crude for the first time since Jun 29, 2021 14:00 GMT when Oil - US Crude traded near 7,317.30.

Oil - US Crude IG Client Sentiment: Our data shows traders are now net-long Oil - US Crude for the first time since Jun 29, 2021 14:00 GMT when Oil - US Crude traded near 7,317.30.

Research, Research Team
Oil - US Crude Client Positioning

Number of traders net-short has decreased by 3.43% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

Oil - US Crude

BEARISH

51.49%

48.51%

19.10% Daily

11.00% Weekly

-14.38% Daily

-3.43% Weekly

0.11% Daily

3.49% Weekly

Oil - US Crude: Retail trader data shows 51.49% of traders are net-long with the ratio of traders long to short at 1.06 to 1. In fact, traders have remained net-long since Jun 29 when Oil - US Crude traded near 7,317.30, price has moved 0.17% higher since then. The number of traders net-long is 19.10% higher than yesterday and 11.00% higher from last week, while the number of traders net-short is 14.38% lower than yesterday and 3.43% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Oil - US Crude prices may continue to fall.

Our data shows traders are now net-long Oil - US Crude for the first time since Jun 29, 2021 14:00 GMT when Oil - US Crude traded near 7,317.30. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Oil - US Crude-bearish contrarian trading bias.

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