France 40 IG Client Sentiment: Our data shows traders are now net-long France 40 for the first time since Dec 22, 2020 when France 40 traded near 5,477.70.
Number of traders net-short has decreased by 11.14% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
France 40: Retail trader data shows 50.77% of traders are net-long with the ratio of traders long to short at 1.03 to 1. In fact, traders have remained net-long since Dec 22 when France 40 traded near 5,477.70, price has moved 2.50% higher since then. The number of traders net-long is 27.27% higher than yesterday and 32.93% higher from last week, while the number of traders net-short is 20.35% lower than yesterday and 11.14% 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 Dec 22, 2020 when France 40 traded near 5,477.70. 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.
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