Crude oil prices have rallied nearly 24 percent since finding a bottom in June. In fact, the commodity is on course for a 7th consecutive week of gains. If confirmed, this would be the longest winning streak since January 2022.
In response, retail traders have become aggressively net-short. This can be seen by taking a look at IG Client Sentiment (IGCS). IGCS tends to function as a contrarian indicator. With that in mind, might crude oil extend its winning streak?
