Alerts

Oil – US Crude IG Shopper Sentiment: Our knowledge reveals merchants are actually net-short Oil – US Crude for the primary time since Sep 16, 2019 when Oil – US Crude traded close to 6,177.00.

Oil - US Crude chart

Variety of merchants net-short has elevated by 47.90% from final week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

Oil – US Crude

BULLISH

49.35%

50.65%

-5.15%
Each day

-17.31%
Weekly

21.47%
Each day

47.90%
Weekly

6.69%
Each day

6.47%
Weekly

Oil – US Crude: Retail dealer knowledge reveals 49.35% of merchants are net-long with the ratio of merchants brief to lengthy at 1.03 to 1. The truth is, merchants have remained net-short since Sep 16 when Oil – US Crude traded close to 6,177.00, worth has moved 7.57% decrease since then. The variety of merchants net-long is 5.15% decrease than yesterday and 17.31% decrease from final week, whereas the variety of merchants net-short is 21.47% increased than yesterday and 47.90% increased from final week. We usually take a contrarian view to crowd sentiment, and the very fact merchants are net-short suggests Oil – US Crude costs could proceed to rise. Our knowledge reveals merchants are actually net-short Oil – US Crude for the primary time since Sep 16, 2019 when Oil – US Crude traded close to 6,177.00. Merchants are additional net-short than yesterday and final week, and the mixture of present sentiment and up to date adjustments offers us a stronger Oil – US Crude-bullish contrarian buying and selling bias.


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