Structurally, the derivatives data and price for $G have diverged (open interest rising while price falls): 24-hour open interest +74.49%, price -2.17%, current price 0.00361.
Watch for two things next:
First, whether open interest continues to rise—if it does, that often indicates shorts are still adding to their positions. Second, whether the price can recover its losses on a pullback with increased volume; if it does, be alert for a concentrated short covering.
Watch for two things next:
First, whether open interest continues to rise—if it does, that often indicates shorts are still adding to their positions. Second, whether the price can recover its losses on a pullback with increased volume; if it does, be alert for a concentrated short covering.