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Oil - US Crude IG Client Sentiment: Our data shows traders are now net-short Oil - US Crude for the first time since Sep 16, 2019 when Oil - US Crude traded near 6,177.00.

Oil - US Crude IG Client Sentiment: Our data shows traders are now net-short Oil - US Crude for the first time since Sep 16, 2019 when Oil - US Crude traded near 6,177.00.

2019-11-06 00:23:00
Research, Research Team
Share:
Oil - US Crude chart

Number of traders net-short has increased by 47.90% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

Oil - US Crude

BULLISH

49.35%

50.65%

-5.15% Daily

-17.31% Weekly

21.47% Daily

47.90% Weekly

6.69% Daily

6.47% Weekly

Oil - US Crude: Retail trader data shows 49.35% of traders are net-long with the ratio of traders short to long at 1.03 to 1. In fact, traders have remained net-short since Sep 16 when Oil - US Crude traded near 6,177.00, price has moved 7.57% lower since then. The number of traders net-long is 5.15% lower than yesterday and 17.31% lower from last week, while the number of traders net-short is 21.47% higher than yesterday and 47.90% 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 16, 2019 when Oil - US Crude traded near 6,177.00. 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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