Based on COT (Commitment of Traders) indicator, it appears that the institutional sellers have been closing off shorts. Not clear if they've been loading up on longs, but a vacuum is being created in the Asks that will lead to an inevitable rise in fibre price imo. Looking at levels, i really like the 1.23 level for an end to this correction before we head down to parity... DXY, as always, is the wild card but I think given the COT data it's clear that shorts are drying up
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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.