$POL This move is pretty interesting—prices went up, but OI is actually dropping. The 1h contract open interest is down -0.31%. Clearly, this doesn’t look like fresh longs entering; it looks more like shorts are having trouble holding on and are topping up.
The 15m volume is up to 1.73x. The close is above the upper edge of the recent 5m range for nearly 20 bars. The Z value is 2.13, and the abnormal percentile is 89.9%. Data-wise, it’s definitely among the notable moves in the whole pool. But active traded volume is down -7.1%, and the buy/sell ratio is 0.87, which suggests the chase-buy orders aren’t that aggressive.
Don’t rush to call it a breakout with this kind of structure. First, watch whether a pullback can hold the upper edge. In a market where shorts are covering and pushing it up, once the covering is done, it often has no follow-through. $POL
The 15m volume is up to 1.73x. The close is above the upper edge of the recent 5m range for nearly 20 bars. The Z value is 2.13, and the abnormal percentile is 89.9%. Data-wise, it’s definitely among the notable moves in the whole pool. But active traded volume is down -7.1%, and the buy/sell ratio is 0.87, which suggests the chase-buy orders aren’t that aggressive.
Don’t rush to call it a breakout with this kind of structure. First, watch whether a pullback can hold the upper edge. In a market where shorts are covering and pushing it up, once the covering is done, it often has no follow-through. $POL
