Silver IG Client Sentiment: Our data shows traders are now at their most net-long Silver since Mar 08 when Silver traded near 2,515.30.
Number of traders net-short has decreased by 12.92% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
Silver: Retail trader data shows 94.19% of traders are net-long with the ratio of traders long to short at 16.23 to 1. Our data shows traders are now at their most net-long Silver since Mar 08 when Silver traded near 2,515.30. The number of traders net-long is 1.68% lower than yesterday and 0.08% lower from last week, while the number of traders net-short is 22.50% lower than yesterday and 12.92% 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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