News / Technical Analysis / US Crude: Majority of Retail Traders Net-Long at 82.73%, Indicating Potential Price Reversal

US Crude: Majority of Retail Traders Net-Long at 82.73%, Indicating Potential Price Reversal

Published: 13.08.2024 13:33 GMT+01

A significant 82.73% of retail traders are net-long on US Crude, with a long-to-short ratio of 4.79 to 1. While net-long positions have increased by 1.78% since yesterday, they have declined by 5.84% compared to last week. Conversely, net-short positions have risen by 2.86% since yesterday and surged by 36.39% over the past week.

Although a contrarian view on crowd sentiment suggests potential further declines in US Crude prices, the decrease in net-long positions over the week, combined with the sharp rise in net-short positions, could signal a possible upward price reversal despite the dominant net-long bias.

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