Potential Short Squeeze in play; must cross above the local resistance (~30700). I believe there is a substantial amount of stop losses at the red dashed line which would cause a cascading short liquidation. If it shows weakness after/if it crosses above I may look to exit early.
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1 Last resistance to break? imo i don't think it have much trouble going through the yellow circled zone. Unfortunately there aren't many big short positions that have been liquidated so farNote
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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.