Oil - US Crude Client Positioning

Number of traders net-short has increased by 50.29% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI


Oil – US Crude

BULLISH

48.85%

51.15%

-12.15%
Daily

-24.17%
Weekly

12.23%
Daily

50.29%
Weekly

-1.17%
Daily

1.57%
Weekly

Oil – US Crude: Retail trader data shows 48.85% of traders are net-long with the ratio of traders short to long at 1.05 to 1. In fact, traders have remained net-short since Apr 14 when Oil – US Crude traded near 6,317.20, price has moved 2.10% higher since then. The number of traders net-long is 12.15% lower than yesterday and 24.17% lower from last week, while the number of traders net-short is 12.23% higher than yesterday and 50.29% 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 Apr 14, 2021 when Oil – US Crude traded near 6,317.20. 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.



Source link