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.
Number of traders net-short has increased by 48.46% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
Oil - US Crude: Retail trader data shows 49.34% 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 7.68% lower since then. The number of traders net-long is 5.41% lower than yesterday and 17.36% lower from last week, while the number of traders net-short is 20.25% higher than yesterday and 48.46% 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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