Variety of merchants net-short has elevated by 25.07% from final week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| Oil – US Crude | BULLISH | 42.28% | 57.72% |
4.60% Every day -15.50% Weekly |
16.18% Every day 25.07% Weekly |
10.99% Every day 3.97% Weekly |
Oil – US Crude: Retail dealer knowledge exhibits 42.28% of merchants are net-long with the ratio of merchants brief to lengthy at 1.37 to 1. Our knowledge exhibits merchants are actually at their least net-long Oil – US Crude since Apr 13 when Oil – US Crude traded close to 82.46. The variety of merchants net-long is 4.60% greater than yesterday and 15.50% decrease from final week, whereas the variety of merchants net-short is 16.18% greater than yesterday and 25.07% greater from final week.
We sometimes take a contrarian view to crowd sentiment, and the actual fact merchants are net-short suggests Oil – US Crude costs could proceed to rise.
Merchants are additional net-short than yesterday and final week, and the mixture of present sentiment and up to date modifications provides us a stronger Oil – US Crude-bullish contrarian buying and selling bias.
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