Increase in Open interest and reduction of short positions from commercials
Is not gonna make it... I'll expect a 50% retracement, then see if next 8hr impulse might be an entry at 70%-50% retracement of the weekly low.
Good that I bought some shares, I wonder how much silver might drop.
I see open interest increasing in the daily, wonder if the OI divergence gains momentum, also might liquidate shorts and take weekly targets.
Gap is getting filled, if we close fine by 12 direction might become bullish.
I was checking DXY, looks like it has to test a gap. So If DXY test the gap and the movement is bullish, commodities will become more bearish, EURUSD also bearish. Red line: monthly level Black: weekly level purple: weekly open blue: gaps 4hr, 1d gaps. Share your thoughts, I have been learning price action, hope that gives me sniper entries.
I got entries in the lows forming a small uptrend, might get more momentum.
formed a spring in 30 min, could also make another one