$SNDK more, the direction I nailed with welding! In the spot order book, buying the wall at 28.78 for 28.78 lots covers the selling wall at 22.05 for 22.05 lots; the depth ratio is 1.305— the bid side is propping up underneath. This isn’t a breakdown; it’s a washout. In the 4-hour chart: 4 bullish candles and 2 bearish; on the daily: it has turned bullish. The structure is on the long side. The contract’s aggressive buying of 48.8% is just to cooperate with the washout. Place a long order at 1450; first target 1516; stop-loss at 1388, place it just outside the 24h low at 1436.
