$ZEC EC This position structure feels a bit contradictory to read: in the whole market, only a little under 40% of accounts are bullish. Among large holders, the proportion of longs is even lower. In a normal script, this structure should move downward.
But the market tape is another story. Over the past nine hours, the price has been ranging around 1550. The four-hour MACD green histogram has shrunk steadily from 8.7 down to 3.9, and selling pressure seems to be quietly deflating. The Grayscale ZEC ETF’s assets have also quietly built up to $1.0 billion.
On the other hand, reports are still circulating that two Russian refineries have been shut down. For Rostov, the one that was stopped is the one supplying refined products—this detail hasn’t been mentioned by many.
Brent crude has also probed 98.9; it’s just one breath away from the 100 mark. $XAU is hovering around 4274, neither up nor down, waiting for tonight’s European and US session to give a direction.
The instruments that most people are bearish on are the ones managing to hold sideways. How this structure will play out from here is a question for when that volume-expansion candle appears.
But the market tape is another story. Over the past nine hours, the price has been ranging around 1550. The four-hour MACD green histogram has shrunk steadily from 8.7 down to 3.9, and selling pressure seems to be quietly deflating. The Grayscale ZEC ETF’s assets have also quietly built up to $1.0 billion.
On the other hand, reports are still circulating that two Russian refineries have been shut down. For Rostov, the one that was stopped is the one supplying refined products—this detail hasn’t been mentioned by many.
Brent crude has also probed 98.9; it’s just one breath away from the 100 mark. $XAU is hovering around 4274, neither up nor down, waiting for tonight’s European and US session to give a direction.
The instruments that most people are bearish on are the ones managing to hold sideways. How this structure will play out from here is a question for when that volume-expansion candle appears.