Number of traders net-short has decreased by 26.38% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
France 40: Retail trader data shows 50.43% of traders are net-long with the ratio of traders long to short at 1.02 to 1. In fact, traders have remained net-long since May 25 when France 40 traded near 4,533.50, price has moved 8.18% higher since then. The number of traders net-long is 2.12% higher than yesterday and 20.41% higher from last week, while the number of traders net-short is 11.22% lower than yesterday and 26.38% 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 May 25, 2020 when France 40 traded near 4,533.50. 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.