Number of traders net-short has increased by 57.41% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
France 40: Retail trader data shows 43.23% of traders are net-long with the ratio of traders short to long at 1.31 to 1. In fact, traders have remained net-short since Sep 18 when France 40 traded near 4,991.60, price has moved 2.47% lower since then. The number of traders net-long is 2.73% higher than yesterday and 11.25% lower from last week, while the number of traders net-short is 66.80% higher than yesterday and 57.41% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests France 40 prices may continue to rise.
Our data shows traders are now net-short France 40 for the first time since Sep 18, 2020 when France 40 traded near 4,991.60. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger France 40-bullish contrarian trading bias.