Number of traders net-short has decreased by 43.63% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
France 40: Retail trader data shows 52.65% of traders are net-long with the ratio of traders long to short at 1.11 to 1. In fact, traders have remained net-long since Oct 03 when France 40 traded near 5,464.40, price has moved 5.81% higher since then. The number of traders net-long is 138.73% higher than yesterday and 121.36% higher from last week, while the number of traders net-short is 30.48% lower than yesterday and 43.63% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests France 40 prices may continue to fall.
Our data shows traders are now net-long France 40 for the first time since Oct 03, 2019 when France 40 traded near 5,464.40. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger France 40-bearish contrarian trading bias.