Number of traders net-short has increased by 27.14% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
France 40: Retail trader data shows 47.64% of traders are net-long with the ratio of traders short to long at 1.10 to 1. In fact, traders have remained net-short since Oct 26 when France 40 traded near 4,815.30, price has moved 2.63% lower since then. The number of traders net-long is 7.61% lower than yesterday and 12.68% lower from last week, while the number of traders net-short is 37.83% higher than yesterday and 27.14% 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 Oct 26, 2020 09:00 GMT when France 40 traded near 4,815.30. 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.