Forexrobots24

forex advisor developer

Oil – US Crude IG Client Sentiment: Our data shows traders are now net-short Oil – US Crude for the first time since Nov 10, 2021 when Oil – US Crude traded near 80.51.

Oil - US Crude Client Positioning

Number of traders net-short has increased by 6.69% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI


Oil – US Crude

BULLISH

49.60%

50.40%

-13.33%
Daily

-5.80%
Weekly

10.69%
Daily

6.69%
Weekly

-2.69%
Daily

0.11%
Weekly

Oil – US Crude: Retail trader data shows 49.60% of traders are net-long with the ratio of traders short to long at 1.02 to 1. In fact, traders have remained net-short since Nov 10 when Oil – US Crude traded near 80.51, price has moved 1.92% lower since then. The number of traders net-long is 13.33% lower than yesterday and 5.80% lower from last week, while the number of traders net-short is 10.69% higher than yesterday and 6.69% 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 Nov 10, 2021 when Oil – US Crude traded near 80.51. 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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