Major commodity contracts have played out two opposite scripts in the past 24 hours.
Oil slid from intraday highs of $86.15 down to around $82, a pullback of more than 4%. Long positions were chained and buried: in the past 4 hours, the WTI contract liquidated $3.42 million, with longs contributing 100% and shorts only $1,111; in the 24-hour total of $3.94 million liquidations, longs accounted for 93%. For Brent and silver, the long-side liquidation shares over the past 4 hours are also as high as 100% and 99%, respectively.
Gold is moving the other way: over the past 7 days, gold contracts saw a cumulative $62.79 million in liquidations, with 86.6% belonging to shorts. Today, the gold price surged briefly above $4,700, but has since fallen back to $4,641; in the past 24 hours, among $5.48 million liquidated, shorts still account for 65%.
In the same commodity market, energy longs are paying their debts, while gold shorts are cutting losses—getting hit are the ones trading the opposite direction.
Data: coinboss.com/tradfi-liquidations
Oil slid from intraday highs of $86.15 down to around $82, a pullback of more than 4%. Long positions were chained and buried: in the past 4 hours, the WTI contract liquidated $3.42 million, with longs contributing 100% and shorts only $1,111; in the 24-hour total of $3.94 million liquidations, longs accounted for 93%. For Brent and silver, the long-side liquidation shares over the past 4 hours are also as high as 100% and 99%, respectively.
Gold is moving the other way: over the past 7 days, gold contracts saw a cumulative $62.79 million in liquidations, with 86.6% belonging to shorts. Today, the gold price surged briefly above $4,700, but has since fallen back to $4,641; in the past 24 hours, among $5.48 million liquidated, shorts still account for 65%.
In the same commodity market, energy longs are paying their debts, while gold shorts are cutting losses—getting hit are the ones trading the opposite direction.
Data: coinboss.com/tradfi-liquidations
