The $Q contract is showing a pattern of declining open interest and rising price (24h: open interest -38.24% / price +74.71%). Here are a few things worth watching next:
1. Will open interest continue to decline?
2. Will the funding rate show a clear bias in either direction?
3. Will new longs step in after the short covering ends?
Total contract positions stand at $35.06 million. I’ll follow up when one of these factors changes.
1. Will open interest continue to decline?
2. Will the funding rate show a clear bias in either direction?
3. Will new longs step in after the short covering ends?
Total contract positions stand at $35.06 million. I’ll follow up when one of these factors changes.