Oil – US Crude IG Client Sentiment: Our data shows traders are now net-short Oil – US Crude for the first time since Jan 06, 2020 when Oil

  


Oil - US Crude Client Positioning

Number of traders net-short has increased by 17.15% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI


Oil – US Crude

BULLISH

49.65%

50.35%

4.73%
Daily

-27.14%
Weekly

11.42%
Daily

17.15%
Weekly

8.00%
Daily

-10.01%
Weekly

Oil – US Crude: Retail trader data shows 49.65% 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 Jan 06 when Oil – US Crude traded near 6,240.30, price has moved 65.80% lower since then. The number of traders net-long is 4.73% higher than yesterday and 27.14% lower from last week, while the number of traders net-short is 11.42% higher than yesterday and 17.15% 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 Jan 06, 2020 when Oil – US Crude traded near 6,240.30. 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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