NF had a 3-1-3 profile with close having edge with sellers in last session..It had a gap down but could not sustain the gap and closed it straight away then gone for all day double distribution profile closing at dPOC.
Day of mechanical push from buyers from lower end of composite in making..Its 6th day of balance in this composite now..those 17600 round weak number low of yday and then weak data tail zone with 17540 low both got cleared..Still that 17490/17440 swing weak low holding..with these weak lows + today's profile structure, rally higher if any got risk higher to sustain the move.
Buyers managed all day well to defend their zones and in the process of such mechanical supports left poor value area and got dPOC skew higher at close..Buyers need to defend upper disbn all session next then get higher move towards 17740+..Once done should never come back into value area..Failing to stay above PDH or 17740 and back in value area calls for repair of poor value area possible.
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 :
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