NF printed a lowest range and volume in last session with a poor high..Failing to clear PDH expected probe back in composite in making..Considered weak staying below 18690 for 18630/18600-18590 and NF probed till 18605 then bounced higher to close above dVAH..
Long liquidation profile with bounce at close above dVAH..This bounce cleared many weak shorts and likely to repair back to day low zone again if no acceptance above 18690.
What buyers of this bounce at close need for next session is to hold 18650 and push higher above 18690 to clear 18725 then all day stay above 18670.. Failing to do so or sustain so expecting probe back to 18620 then more liquidation from there.
7th day of composite.
Poor low and value area.. Without repairing this, long side is risky now.
For next session, move above 18690 could get 18725/18750-18765, if sustains 18775 then possible to get 18810/18840. Failing to sustain above 18730 could drop to 18670/18645 and weak below that for 18620/18590/18560..If sustains more weakness towards 18515/18480-18470.
Charts and data :
Detailed plan with references to carry forward, actionable trade hypos for next session, any importance nuance from the day and view based on weekly and monthly time frame are available to members in private blog.Above report is only part of it.
Notes :
a) Check glossary page in website if any of the terms used in the post are not clear.
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