$BANK This 15-minute rally—prices are up by almost 1%, and trading volume suddenly jumped to more than 2.5 times the usual level. It looks pretty fierce.
But if you look closely at the open interest, it’s basically unchanged—if anything, it’s slightly down. This kind of structure, where price rises but OI doesn’t increase (and in fact declines), is very likely not driven by fresh long funds entering. It’s more like the shorts are actively cutting positions and covering, pushing the price up. Put simply: it’s not that the buyers are unusually strong—it’s that the sellers have conceded.
Now the price has just broken above the recent high of the last 20 five-minute K-lines. In the order book, passive/active buy orders also have the edge (buy-sell ratio 1.15), so short-term momentum is there. However, if this is truly a covering/rally move, the sustainability is questionable. Don’t chase too high—wait for a pullback and confirmation before acting.
But if you look closely at the open interest, it’s basically unchanged—if anything, it’s slightly down. This kind of structure, where price rises but OI doesn’t increase (and in fact declines), is very likely not driven by fresh long funds entering. It’s more like the shorts are actively cutting positions and covering, pushing the price up. Put simply: it’s not that the buyers are unusually strong—it’s that the sellers have conceded.
Now the price has just broken above the recent high of the last 20 five-minute K-lines. In the order book, passive/active buy orders also have the edge (buy-sell ratio 1.15), so short-term momentum is there. However, if this is truly a covering/rally move, the sustainability is questionable. Don’t chase too high—wait for a pullback and confirmation before acting.
