Hi OT,
5800 has a huge OI of 91L; the majority believes it to be failsafe.
I have observed that when a SP reaches an extreme level of OI it gets challenged before the expiry. Consider it as an "overbought" level.
The weak hands ought to be shaken out. None should be permitted to make easy money.
5800 has a huge OI of 91L; the majority believes it to be failsafe.
I have observed that when a SP reaches an extreme level of OI it gets challenged before the expiry. Consider it as an "overbought" level.
The weak hands ought to be shaken out. None should be permitted to make easy money.
Floor (5900) and Ceiling (6100) are well in place. I have shorted strangles in place so this is important for me. If a level is "lost" I will be required to change strategy.
Price is at a strong support, which has been touched/tested 7 times before.
From here on, not expecting much downside. However, have placed my short entries below 5900. Needless to say, upside is on the cards.
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