Oil – US Crude IG Client Sentiment: Our data shows traders are now net-long Oil – US Crude for the first time since Jun 29, 2021 14:00 GMT when Oil



Number of traders net-short has decreased by 3.43% from last week.
SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

Oil – US Crude

BEARISH

51.49%

48.51%

19.10%
Daily

11.00%
Weekly

-14.38%
Daily

-3.43%
Weekly

0.11%
Daily

3.49%
Weekly

Oil – US Crude: Retail trader data shows 51.49% of traders are net-long with the ratio of traders long to short at 1.06 to 1. In fact, traders have remained net-long since Jun 29 when Oil – US Crude traded near 7,317.30, price has moved 0.17% higher since then. The number of traders net-long is 19.10% higher than yesterday and 11.00% higher from last week, while the number of traders net-short is 14.38% lower than yesterday and 3.43% 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.

Our data shows traders are now net-long Oil – US Crude for the first time since Jun 29, 2021 14:00 GMT when Oil – US Crude traded near 7,317.30. 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.

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