TechnoMeter

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests Oil - US Crude prices may continue to rise. Positioning is less net-short than yesterday but more net-short from last week. The combination of current sentiment and recent changes gives us a further mixed Oil - US Crude trading bias.



Traders are defined by their lack of patience in realizing a profit, which could make the historically long intuitional position in Brent an argument for more downside.

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