Not exactly, let me explain.
Open Interest is the total number of open contracts, we don't know if these are long or short.
The Seasonal Average is a historical reference – where should the OI be based on where it started in January?
We must rely on narrative:
(Image 1 of 3)
Open Interest is the total number of open contracts, we don't know if these are long or short.
The Seasonal Average is a historical reference – where should the OI be based on where it started in January?
We must rely on narrative:
(Image 1 of 3)
1) Seasonal Tendency, the early bird – something is up
2) COT Hedge Program, the intel about SM side
3) Open Interest, the confirmation of activity
(Image 2 of 3)
2) COT Hedge Program, the intel about SM side
3) Open Interest, the confirmation of activity
(Image 2 of 3)
Hope this helps :)
(Image 3 of 3)
(Image 3 of 3)
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