Technically, the contract data and price for $RLC have diverged (open interest is down while the price is up): 24-hour open interest: -35.16%; price: +14.24%; current price: 1.0239.
Two things to watch next:
First, whether open interest starts to recover—a rebound often signals new long positions entering. Second, whether the price starts to stall. If open interest keeps falling while the price moves sideways, it likely means the covering is nearing its end.
This view may not be right; please manage your own risk.
Two things to watch next:
First, whether open interest starts to recover—a rebound often signals new long positions entering. Second, whether the price starts to stall. If open interest keeps falling while the price moves sideways, it likely means the covering is nearing its end.
This view may not be right; please manage your own risk.