Silver IG Client Sentiment: Our data shows traders are now at their least net-long Silver since Jun 16 when Silver traded near 27.21.


Number of traders net-short has increased by 609.77% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI


Silver

BULLISH

66.82%

33.18%

-4.23%
Daily

-14.52%
Weekly

505.13%
Daily

609.77%
Weekly

32.88%
Daily

20.70%
Weekly

Silver: Retail trader data shows 66.82% of traders are net-long with the ratio of traders long to short at 2.01 to 1. Our data shows traders are now at their least net-long Silver since Jun 16 when Silver traded near 27.21. The number of traders net-long is 4.23% lower than yesterday and 14.52% lower from last week, while the number of traders net-short is 505.13% higher than yesterday and 609.77% higher 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.

Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current Silver price trend may soon reverse higher despite the fact traders remain net-long.





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