NF printed long liquidation profile and then had two days composite closing at lower quad in last session with lower volume narrow range session.Observation was that could resolve downside to get 18050/18010/17960. NF had a gap down to get 18010 then bounced sharp to close gap..Attempt to stay in two days balance failed which lead to test morning tail then remained in developing value and closed at dPOC.
NF stopped 7days of one time frame up. Sign for balance or reversal from here.
Left a buying tail and short covering profile.dPOc skew at close..Buyers next need drive or gap after such close..Else overlap to downside auction for next session to test today's buying tail.
18150 push could get 18200 easy if sustains more rally upside..Failing to stay above 18150 could test 18050 and staying below that more liquidation..
That poor low zone of 18110-120 cleared also closed gap from 01/11.This gap zone left buying tail now..If that tail accepts more liquidation..
Swingwise staying below 18240 looking for retest of today low zone and more downside towards 17980//17920/17860.
Charts and data :
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