The basis is against the market, indicating that the spot supply is in short supply, but the contradiction between supply and demand will be alleviated in the future.

A negative basis is a positive market, that is, a normal market. Because of the cost of holding positions, futures prices should usually be higher than spot prices.

As for how to judge the rise and fall of the market outlook based on this, my level is limited, and I will wait for experts to answer with you.