The OI continues to be vague as spreads dominate the action. Total volume is 131,832 lots but only 32%, or 42,463 lots, is outright trading. The drop in Dec and the increase in a March continues to be symmetrical. Of course there has been lots of action in the mid to very forward months as, apparently, origin sells linking the front activity with the forwards via spreads. As to the market, I am long because it continues to act steady but I have not posting in the early hours because I am so ambivalent. There are several reasons for my skepticism including a high RSI as we see in Nagual’s charts. For now the market remains steady as fund buying is continuous but with the usual selling by commercials and others. USDBRL is 4.0954 +0.012 (+0.29%) and USDCOP is 3,324.8501 -10.3 (-0.3088%).
