GM

Interesting London session this morning:

Value build early w/ overnight shorts pressing into support (104k).

Initial breakout >105k led by initiative longs, CVD & OI rising together, showing  buyers stepping in.

Price pushed higher, OI flattens but CVD keeps rising = shorts likely forced out, contributing to the squeeze.

Move extends to 106.5k as late longs chase hitting resting passive ask side liq.

Continuation scenario:
Ideally would need to see spot buying pick up with support at low 105s 

Downside risk:
Now seeing CVD divergence while OI stays elevated exhaustion risk, would watch for reversal traps or rotation down again if trapped longs begin to unwind - below 104.6s probs trade 103 and lower.

Sets up for a very fascinating NY session.