Trend day closing at high with incomplete auction at high on Friday.Expected upside follow through holding 23500 to get 23700/23750 for next session in NF.They got this move in first session then came down. No bounce from 23505 means expected 23460/23420 then bounce which they did during event then closed at dPOC.
Neutral center day with failed auction at top.
5th day of one time frame up.
Negated clean trend day of last session and closed as two days balance now.Odds to have balance and skew down next as long as no acceptance above 23700 as no trace of buyers pre/post event from last session.So, unless we see buyers effort in next session expecting skew down after this close as two days balance negating trend day and closing at dPOC.
Considering 23500 again support goes means retest of PDL zone then weakness.
Levels wise, not able to stay below 23500 and accepting above 23560 could get 23595/23630-23645 more bullish above 23650 for 23720-23735 if sustains 23780-23790/23840/23910/23980/24045/24100. Not able to stay above 23640 and back below 23590 could go for test of 23555/235215-23515.Weak below 23500 to get 23460/23420 bounce else 23380/23350/23320/23280 and quite weak below 23280 for 23225/23180/23120/23045/22995.
Weekly :
Weekly expected to balance and move down towards 23040/22950/22850 and once moves below 23040 marked res at 23220 and that cleared means expected move higher towards 23320/23410 then spike towards 23550-23600. NF got 22850 first then turned into one time frame up on daily to clear 23600 then closed at dVAH of the week.
Outside week and closed at higher quad. 23500 considering pivot for week. Goes means could get 23420-23385 bounce later stays down then 23300.That goes means 23220/23075/22995 solid support and clears means 22850/22650. Staying above 23500 could get 23640/23720 reject else 23800 and solid res there..If accepts means could get 23940/24045/24100 extreme case 24250-24300.
Monthly :
Jan monthly closed as long liquidation profile..as long as not accepting above 23800 expecting to have balance in this b value area to start Feb to test back 23420/23220/23050/22850.If accepts above 23800 then 23950/24100 reject and rotate down else 24300-24400 and reversal on monthly above this band towards 24600/24800/25100.
Charts :
Daily
Weekly
Monthly
Data :
Notes :
a) Check glossary page in website if any of the terms used in the post are not clear.
b) If images are not clear, click on them for enlarged view.
Comments