$MON A slow bleed lower, still grinding down. Since last night, it’s been making lower highs and drifting lower. At 01:00 this morning, volume picked up as it sold off; by noon, it had continued making new lows, reaching 0.017. RSI has fallen to around 15, with no meaningful rebound yet.
OI value over 24h dropped from about 18.1 million to 16.6 million. Price down, open interest down—it looks more like distribution than a hard short squeeze. The current price is hovering near the lower edge of the channel. Don’t rush to buy the dip unless a weak bounce gets back above 0.0175. If it breaks today’s low again, the downside looks even more open.
Not investment advice; do your own charting.
#MON #Futures
OI value over 24h dropped from about 18.1 million to 16.6 million. Price down, open interest down—it looks more like distribution than a hard short squeeze. The current price is hovering near the lower edge of the channel. Don’t rush to buy the dip unless a weak bounce gets back above 0.0175. If it breaks today’s low again, the downside looks even more open.
Not investment advice; do your own charting.
#MON #Futures
