Variety of merchants net-short has decreased by 42.43% from final 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% |
15.71% Day by day 60.19% Weekly |
-28.34% Day by day -42.43% Weekly |
5.83% Day by day 26.05% Weekly |
Oil – US Crude: Retail dealer knowledge reveals 84.81% of merchants are net-long with the ratio of merchants lengthy to brief at 5.58 to 1. Our knowledge reveals merchants are actually at their most net-long Oil – US Crude since Sep 27 when Oil – US Crude traded close to 77.23. The variety of merchants net-long is 15.71% increased than yesterday and 60.19% increased from final week, whereas the variety of merchants net-short is 28.34% decrease than yesterday and 42.43% decrease from final week.
We usually take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests Oil – US Crude costs could proceed to fall.
Merchants are additional net-long than yesterday and final week, and the mix of present sentiment and up to date modifications provides us a stronger Oil – US Crude-bearish contrarian buying and selling bias.
