Large speculators are aggressively taking profits, which raises an important question: How will the price react? There are two likely scenarios:
The short sentiment remains dominant, but profit-taking could trigger a short-term bullish run as positions are closed and the market reacts.
Speculators could shift their stance, but will they go fully long? At this point, we just don’t know.
If stronger data emerges to support our thesis by Friday, next week could set up for a promising outlook. Staying flexible and prepared for either scenario will be key.
The short sentiment remains dominant, but profit-taking could trigger a short-term bullish run as positions are closed and the market reacts.
Speculators could shift their stance, but will they go fully long? At this point, we just don’t know.
If stronger data emerges to support our thesis by Friday, next week could set up for a promising outlook. Staying flexible and prepared for either scenario will be key.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.