The rate has been reading negative eight times in a row, yet the position size still surged by 37% in a single day—CL was pushed above 91. Almost all the added positions in this round are shorts.
In the past 4 hours, there were six bullish candles and not a single bearish one. Net gain is 6.11%, and the price is still above the 20/50 moving averages. Shorts keep adding to their positions all the way uptrend, handing money over to longs. The deeper they get trapped, the more ready-made the buyback demand will be later.
The only risk to watch: the whale account’s long share dropped by 10% over 7 hours. The active buy/sell ratio is slightly more sell-leaning than 0.497. There’s capital taking advantage of the push to unload.
My order: go long at the current price 91.1. If it holds above the 24-hour high of 92.26, I’ll look for continuation. If it breaks down and loses the 90 moving-average support, I’ll exit immediately.
Conditions to flip short: if price falls below 90, 4-hour candles turn bearish, or if the funding rate turns positive and OI keeps building—that’s a signal that longs have become crowded to the point of exhaustion. Then I’ll reverse and short.
#cl $CL
In the past 4 hours, there were six bullish candles and not a single bearish one. Net gain is 6.11%, and the price is still above the 20/50 moving averages. Shorts keep adding to their positions all the way uptrend, handing money over to longs. The deeper they get trapped, the more ready-made the buyback demand will be later.
The only risk to watch: the whale account’s long share dropped by 10% over 7 hours. The active buy/sell ratio is slightly more sell-leaning than 0.497. There’s capital taking advantage of the push to unload.
My order: go long at the current price 91.1. If it holds above the 24-hour high of 92.26, I’ll look for continuation. If it breaks down and loses the 90 moving-average support, I’ll exit immediately.
Conditions to flip short: if price falls below 90, 4-hour candles turn bearish, or if the funding rate turns positive and OI keeps building—that’s a signal that longs have become crowded to the point of exhaustion. Then I’ll reverse and short.
#cl $CL
