🐋 $WLD A $968,000 long position was liquidated on the perpetual futures market.
Behind liquidations this large, leveraged positions often simply can’t withstand the move.
When prices rise or fall sharply, liquidations often cluster: one batch of positions gets liquidated, pushing prices further and triggering the next batch.
Prices near clusters of liquidations are often later treated as short-term support or resistance reference points, but whether they hold depends on subsequent buying and selling.
All indicators describe past price movements; the market can move in the opposite direction at any time.
#WLD
Behind liquidations this large, leveraged positions often simply can’t withstand the move.
When prices rise or fall sharply, liquidations often cluster: one batch of positions gets liquidated, pushing prices further and triggering the next batch.
Prices near clusters of liquidations are often later treated as short-term support or resistance reference points, but whether they hold depends on subsequent buying and selling.
All indicators describe past price movements; the market can move in the opposite direction at any time.
#WLD