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Posted by Tango
on May 23, 2019, 9:23 am
The OI is higher but it doesn’t mean necessarily that yesterday’s activity consisted of only new buying and new selling. The July change is close to flat with 21,451 lots outright volume in July. This may indicate new vs. old or possibly liquidation on both sides with new spreads concealing the lower OI. Unfortunately the OI is difficult to read but an increase in the total seems off imo. Whatever the reason, bearish production numbers seem to weigh on the market. Yet a long cold weekend is coming, frost or no frost. Some volatility should also one today and tomorrow. Market continues under pressure but finding support for now.