Price broke out of swing high. Life high once more. Price at Pitchfork resistance. Indicators are forming Negative Divergences, especially MACD.
OI Table: Bulls are in full command with huge writing of Puts at 11000, 11200, 11300, 11400 and also 11500. 11400 Put strike is the highest OI. It means that bulls are unwinding their position from 11000 Put which has been the highest OI for last about a month and building strong position at 11400 Put strike. This is quite significant for market direction in near term. Today bulls have added total 1562325 shares at 11500 Put strike. So now we have to see if price comes towards 11515-20 for seeking support. That can be a good reentering level for playing long with an SL at 11490. Very strong bullish market.
OI Table: Bulls are in full command with huge writing of Puts at 11000, 11200, 11300, 11400 and also 11500. 11400 Put strike is the highest OI. It means that bulls are unwinding their position from 11000 Put which has been the highest OI for last about a month and building strong position at 11400 Put strike. This is quite significant for market direction in near term. Today bulls have added total 1562325 shares at 11500 Put strike. So now we have to see if price comes towards 11515-20 for seeking support. That can be a good reentering level for playing long with an SL at 11490. Very strong bullish market.