What is $AKE ’s position telling us? Open interest is down 13.32% over 24 hours, while the price is up 110.74%. Funds on the exchange total about $16.18 million.
My take: this looks more like shorts closing their positions, with buybacks likely doing most of the work pushing the price up. Once the short covering ends, the question is whether new longs will step in.
Do you check open interest before placing a trade?
My take: this looks more like shorts closing their positions, with buybacks likely doing most of the work pushing the price up. Once the short covering ends, the question is whether new longs will step in.
Do you check open interest before placing a trade?