Q: What does a 15.17% drop in open interest over $Q 24 hours, alongside a 42.46% price increase, mean?
A: This rally is probably driven mostly by short covering. So far, there’s no sign of new money coming in. Short covering eventually runs its course, and whether the uptrend can continue depends on whether additional capital comes in.
A: This rally is probably driven mostly by short covering. So far, there’s no sign of new money coming in. Short covering eventually runs its course, and whether the uptrend can continue depends on whether additional capital comes in.