Variety of merchants net-short has decreased by 23.24% from final week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
Oil – US Crude
Oil – US Crude: Retail dealer information reveals 51.21% of merchants are net-long with the ratio of merchants lengthy to brief at 1.05 to 1. Actually, merchants have remained net-long since Dec 04 when Oil – US Crude traded close to 5,816.10, value has moved 9.22% greater since then. The variety of merchants net-long is 31.58% greater than yesterday and 75.91% greater from final week, whereas the variety of merchants net-short is 2.12% decrease than yesterday and 23.24% decrease from final week. We usually take a contrarian view to crowd sentiment, and the actual fact merchants are net-long suggests Oil – US Crude costs could proceed to fall. Our information reveals merchants are actually net-long Oil – US Crude for the primary time since Dec 04, 2019 when Oil – US Crude traded close to 5,816.10. Merchants are additional net-long than yesterday and final week, and the mixture of present sentiment and up to date modifications offers us a stronger Oil – US Crude-bearish contrarian buying and selling bias.