Number of traders net-short has decreased by 42.43% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
|Oil – US Crude||BEARISH||84.81%||15.19%||
Oil – US Crude: Retail trader data shows 84.81% of traders are net-long with the ratio of traders long to short at 5.58 to 1. Our data shows traders are now at their most net-long Oil – US Crude since Sep 27 when Oil – US Crude traded near 77.23. The number of traders net-long is 15.71% higher than yesterday and 60.19% higher from last week, while the number of traders net-short is 28.34% lower than yesterday and 42.43% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Oil – US Crude 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 Oil – US Crude-bearish contrarian trading bias.