NF had 2nd day of one time frame down with good supply closing with spike down in last session. Gap down/drive down was expectation..Sellers for next session had to defend 21655 else squeeze expected. NF opened above spike high and gone for open drive with volume above 21655 which lead to large buying tail then squeeze..Trend day failed into closing hours to turn into P then ended as spike up.
Above 21655 marked probe for 21735 if no rejection then 21790 expected. NF completed this today.
Large buying tail and squeeze day..Solid buying inventory right from start today.
Minor late spike into close. 21785-21810 spike zone.
Buyers of today should hold two zones for next session 21770-21785 then next 21735-21745.As long as these zones hold they could have overlap to higher sessions next..Gives up means grind back into today large buying tail odds.
Swing wise after probing 21600 from 21820 negation moved to 21755 which got cleared today.Based on today's strong inventory profile, better to wait for a day and check follow through to decide if this is going back to retest excess at top or this is just a one day pullback and we resume downside again.
For next session,not accepting below 21770 and moving above 21810 could get 21835/21870/21900-21910 if sustains 21945/21970 probe. Not able to stay above 21870 and moving below 21800 could get 21770 if that goes test of 21735 and weak below that for 21710/21685 and major weakness below 21685 for 21645/21615/21580/21550-21525.
Charts and data :
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