I agree. I think this is shorts being covered. If Wessal was buying I don't think the MMs would be so eager to drop the price down to fill their order. Yes, Wessal will have to be filled at bid per the rules, but I think they will have to bid at the current PPS, and the price will react positively to the order being filled (not just an uptick and continued downtrend). I just don't see why MMs would drop the price to fill a buy order if it wasn't to their benefit... The fact that the big orders do represent 20-25% of the volume is a bit confusing, however. Oh well, we will find out what is happening here soon enough.
All posts are in my opinion. Do your DD.