$BTW Contract Data Review: Open interest fell 17.07% over 24 hours while the price rose 3.16%, with the value of open interest at approximately $73.06 million.
Which side is more on the defensive? It may be the shorts: falling open interest alongside a rising price usually suggests short positions are being covered and closed. Once that buying back is over, the market could lose momentum if no new longs step in.
Which side is more on the defensive? It may be the shorts: falling open interest alongside a rising price usually suggests short positions are being covered and closed. Once that buying back is over, the market could lose momentum if no new longs step in.