France 40 IG Client Sentiment: Our data shows traders are now net-short France 40 for the first time since Jul 22, 2020 when France 40 traded near 5,047.30.
Number of traders net-short has increased by 50.83% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
France 40: Retail trader data shows 48.40% of traders are net-long with the ratio of traders short to long at 1.07 to 1. In fact, traders have remained net-short since Jul 22 when France 40 traded near 5,047.30, price has moved 2.66% lower since then. The number of traders net-long is 0.59% higher than yesterday and 19.00% lower from last week, while the number of traders net-short is 62.28% higher than yesterday and 50.83% 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 Jul 22, 2020 when France 40 traded near 5,047.30. 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.
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