Open interest plunged 6% in just 15 minutes. This is absolutely not a healthy pullback.
On the market, RLC’s share of aggressive buy orders was squeezed down to just 42.2%, with net aggressive outflows nearing 950,000. On the surface, the price dipped only 0.2%, looking like narrow-range trading, but the cliff-like drop in open interest revealed what the money was really doing.
Mistaking a slight dip for consolidation before a rally is often how people get trapped. Aggressive buying has completely dried up, while positions are being unwound at an accelerating pace. This isn’t a shakeout by the major players—the bulls’ defenses are being systematically dismantled as traders rush to close positions and get out first.
#RLC
👇
On the market, RLC’s share of aggressive buy orders was squeezed down to just 42.2%, with net aggressive outflows nearing 950,000. On the surface, the price dipped only 0.2%, looking like narrow-range trading, but the cliff-like drop in open interest revealed what the money was really doing.
Mistaking a slight dip for consolidation before a rally is often how people get trapped. Aggressive buying has completely dried up, while positions are being unwound at an accelerating pace. This isn’t a shakeout by the major players—the bulls’ defenses are being systematically dismantled as traders rush to close positions and get out first.
#RLC
👇
