France 40 IG Client Sentiment: Our data shows traders are now net-short France 40 for the first time since May 11, 2020 09:00 GMT when France 40 traded near 4,500.60.
Number of traders net-short has increased by 8.37% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
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France 40: Retail trader data shows 48.48% of traders are net-long with the ratio of traders short to long at 1.06 to 1. In fact, traders have remained net-short since May 11 when France 40 traded near 4,500.60, price has moved 0.35% higher since then. The number of traders net-long is 23.12% lower than yesterday and 17.82% lower from last week, while the number of traders net-short is 57.23% higher than yesterday and 8.37% 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 May 11, 2020 09:00 GMT when France 40 traded near 4,500.60. 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.
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