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$IO Price drops by -3.68%, but the open interest reaches 18.56 million. Combined with price action, this looks more like a chain reaction of forced liquidations triggering a sell-off rather than a healthy shakeout. The main players might be taking the opportunity to offload, indicating a weak market structure.
🎯 Direction: Short (NoPosition)
Currently, there is no clear support structure on the chart. A decline accompanied by high open interest is a warning sign. Wait for the price to form a clear absorption pattern at lower levels or for open interest to significantly decrease before reassessing long opportunities. Small losses, big gains—profit is based on probability, and the current odds do not favor the bulls.
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