Oil - US Crude IG Client Sentiment: Our data shows traders are now net-short Oil - US Crude for the first time since Sep 03, 2021 00:00 GMT when Oil - US Crude traded near 6,969.90.
Number of traders net-short has increased by 1.79% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
Oil - US Crude: Retail trader data shows 49.68% of traders are net-long with the ratio of traders short to long at 1.01 to 1. In fact, traders have remained net-short since Sep 03 when Oil - US Crude traded near 6,969.90, price has moved 0.15% lower since then. The number of traders net-long is 4.61% lower than yesterday and 10.55% lower from last week, while the number of traders net-short is 13.10% higher than yesterday and 1.79% 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.
Our data shows traders are now net-short Oil - US Crude for the first time since Sep 03, 2021 00:00 GMT when Oil - US Crude traded near 6,969.90. 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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