$TUT This 15-minute breakout is something.
The price broke above the upper bound of the range of about 20 five-minute candles. The trading volume is 1.87 times the norm, and the volatility Z-value is also up to 3.52—there really is capital moving.
But what’s interesting is that OI is actually falling. Both the 15-minute and 1-hour contract open interest are negative, while the notional change is still increasing. This combination of price rising + OI dropping looks more like short covering than new long momentum.
The buy-sell ratio is 1.27, and the passive trade spread is down 12%. This suggests quite a few people are chasing longs in the short term.
In the last 24 hours, the total trading value has already reached 194M. In terms of notional change across the whole pool, it ranks 32nd. The depth confirmation looks solid. However, a move pulled up mainly by short covering raises questions about its sustainability. Just touch the boundary and don’t get too carried away.
The price broke above the upper bound of the range of about 20 five-minute candles. The trading volume is 1.87 times the norm, and the volatility Z-value is also up to 3.52—there really is capital moving.
But what’s interesting is that OI is actually falling. Both the 15-minute and 1-hour contract open interest are negative, while the notional change is still increasing. This combination of price rising + OI dropping looks more like short covering than new long momentum.
The buy-sell ratio is 1.27, and the passive trade spread is down 12%. This suggests quite a few people are chasing longs in the short term.
In the last 24 hours, the total trading value has already reached 194M. In terms of notional change across the whole pool, it ranks 32nd. The depth confirmation looks solid. However, a move pulled up mainly by short covering raises questions about its sustainability. Just touch the boundary and don’t get too carried away.
