After closing at dVAH yesterday, buyers got a clean gap up and gone for higher value day today. Failing to sustain above 13175 was expected to probe down 13120 but all attempts below 13175 today held and NF finally closed above dPOC.
Clues from auction today :
NF had a clean higher value + narrow range + lower volume (75L) day..All are characteristics of probable Island profile..Need a follow through to make it confirmed.MO has also entered into 60+ zone.
NF had FA at top but could not sustain below dVAL and closed above dPOC.If this FA is committed, then need to clear 13160 in next session.
It was neutral day with FA at top and buying tail at low and quite a nice balanced profile..Could lead to imbalance away from this profile in next session.
We have 3days balance below 13160 and this balanced profile at top now. Holding 13160 and accepting above 13220 could lead to fresh upside move towards 13250/13290 if sustains then 13350.
Failing to sustain above 13220 and clearing 13160 could get 13120/13090 if sustains then 13060-13050 probe possible.
Failing to sustain below 13120-13090 band, could bounce back to 13165/13190-13220.
Charts and data :
Detailed plan with refs to carry forward, trade hypos and nuances from the day are available to members.
Notes :
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