Number of traders net-short has decreased by 42.65% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
BEARISH | 96.72% | 3.28% | 3.33% 11.13% | -30.36% -42.65% | 1.71% 7.81% |
Silver: Retail trader data shows 96.72% of traders are net-long with the ratio of traders long to short at 29.45 to 1. Our data shows traders are now at their most net-long Silver since Dec 28 when Silver traded near 23.00. The number of traders net-long is 3.33% higher than yesterday and 11.13% higher from last week, while the number of traders net-short is 30.36% lower than yesterday and 42.65% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Silver prices may continue to fall.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Silver-bearish contrarian trading bias.
