in general, this is all we need to know about volume, price and open interest, I quote this part for the record
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''Trading volume and open interest are key signals; increasing volume without a price drop may indicate a bottom, while increasing volume without a price rise may signal a short-term peak; an upward trend requires consistent and even volume, and a downward trend with volume breaking key levels indicates continuation; increasing positions during stagnation may suggest selling short, while increasing positions during a decline may indicate a rebound. ''