| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| Oil - US Crude | BULLISH | 34.95% | 65.05% |
-9.36%Daily -3.19%Weekly |
8.88%Daily 12.59%Weekly |
1.73%Daily 6.52%Weekly |
| Change in | Longs | Shorts | OI |
| Daily | -9% | 8% | 1% |
| Weekly | -2% | 11% | 6% |
Oil - US Crude: Retail trader data shows 34.95% of traders are net-long with the ratio of traders short to long at 1.86 to 1.Our data shows traders are now at their least net-long Oil - US Crude since Aug 10 when Oil - US Crude traded near 82.39. The number of traders net-long is 9.36% lower than yesterday and 3.19% lower from last week, while the number of traders net-short is 8.88% higher than yesterday and 12.59% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests Oil - US Crudeprices may continue to rise.
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 https://www.dailyfx.com/analysis/CL-IG-Client-Sentiment-202309150223.html
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