$BMT is making an interesting move.
It jumped 2.31% in 15 minutes, with volume reaching 2.37x and volatility Z hitting 3.14. The closing price broke above the highs of the last 20 five-minute candles. The aggressive trade delta was +4.7%, and the buy/sell ratio was 1.10—the buyers are genuinely absorbing supply.
The key is the structure: OI is rising alongside the price. Contract notional is up 1.60% over 15 minutes and 4.29% over 1 hour, which looks more like new leveraged longs entering than shorts getting squeezed. The OI anomaly percentile is 88.9%, ranking #12 across the pool, and it has persisted for several consecutive periods. Depth confirmation is also in: volume is above normal, price has touched the range boundary, and the OI anomaly is still holding.
However, 24-hour trading volume is only a little over 20M, so the pool isn't very deep. If volume doesn't follow through, this kind of breakout can retrace quickly. I'm watching to see whether the five-minute highs can flip into support. I'll only follow once price holds there; otherwise, it could just be a quick wick.
It jumped 2.31% in 15 minutes, with volume reaching 2.37x and volatility Z hitting 3.14. The closing price broke above the highs of the last 20 five-minute candles. The aggressive trade delta was +4.7%, and the buy/sell ratio was 1.10—the buyers are genuinely absorbing supply.
The key is the structure: OI is rising alongside the price. Contract notional is up 1.60% over 15 minutes and 4.29% over 1 hour, which looks more like new leveraged longs entering than shorts getting squeezed. The OI anomaly percentile is 88.9%, ranking #12 across the pool, and it has persisted for several consecutive periods. Depth confirmation is also in: volume is above normal, price has touched the range boundary, and the OI anomaly is still holding.
However, 24-hour trading volume is only a little over 20M, so the pool isn't very deep. If volume doesn't follow through, this kind of breakout can retrace quickly. I'm watching to see whether the five-minute highs can flip into support. I'll only follow once price holds there; otherwise, it could just be a quick wick.