Based on COT (Commitment of Traders) indicator, it appears that the institutional sellers have been closing off shorts. Not clear if they've been loading up on longs, but a vacuum is being created in the Asks that will lead to an inevitable rise in fibre price imo. Looking at levels, i really like the 1.23 level for an end to this correction before we head down to parity... DXY, as always, is the wild card but I think given the COT data it's clear that shorts are drying up