Silver IG Client Sentiment: Our data shows traders are now at their most net-long Silver since Dec 08 when Silver traded near 22.44.
Number of traders net-short has decreased by 31.87% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
Silver: Retail trader data shows 96.15% of traders are net-long with the ratio of traders long to short at 24.95 to 1. Our data shows traders are now at their most net-long Silver since Dec 08 when Silver traded near 22.44. The number of traders net-long is 2.72% higher than yesterday and 6.67% higher from last week, while the number of traders net-short is 17.42% lower than yesterday and 31.87% 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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