Number of traders net-short has increased by 7.27% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| Oil - US Crude | BULLISH | 49.93% | 50.07% | -1.20% Daily -5.59% Weekly | 3.40% Daily 7.27% Weekly | 1.05% Daily 0.44% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | -7% | 12% | -4% |
| Weekly | 7% | 2% | 6% |
Oil - US Crude: Retail trader data shows 49.93% of traders are net-long with the ratio of traders short to long at 1.00 to 1. In fact, traders have remained net-short since Nov 05 when Oil - US Crude traded near 91.88, price has moved 11.64% lower since then. The number of traders net-long is 1.20% lower than yesterday and 5.59% lower from last week, while the number of traders net-short is 3.40% higher than yesterday and 7.27% 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 Nov 05, 2022 when Oil - US Crude traded near 91.88. 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.
