SENTIMENT

Oil – sentiment of IG clients on US crude: Our data shows traders are now net buyers Oil – US crude for the first time since February 1, 2021, when oil


Oil - Positioning of the US crude customer

The number of net-short traders fell 18.54% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

SHORTS CHANGE

CHANGE OF IO


Oil – American crude

BEAR CUB

50.27%

49.73%

15.78%
Daily

12.51%
Weekly

-15.48%
Daily

-18.54%
Weekly

-2.20%
Daily

-5.42%
Weekly

Oil – American gross: Data from retail traders shows that 50.27% of traders are net long with the ratio of long to short traders at 1.01 to 1. In fact, traders have remained net since February 1, when US oil and crude traded near 5,402.00, the price has risen 9.90% since then. The number of net-long traders is 15.78% higher than yesterday and 12.51% higher than last week, while the number of net-short traders is 15.48% lower than yesterday and 18 , 54% lower than last week.

We generally take a contrarian view of crowd sentiment, and the fact that traders are net long suggests that US oil and crude prices may continue to decline.

Our data shows that traders are now net long in US Crude Oil for the first time since February 1, 2021, when US Crude Oil traded near 5,402.00. Traders are longer than yesterday and last week, and the combination of current sentiment and recent changes gives us a bearish countercurrent trading bias on Oil and the US.



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