Last session had another neutral extreme up day with value overlap..Swing res 19480-19550 zone was holding well and not allowing to open up and pushing for balance.Today they had a open above PDH but all day gone for quite a tight balance and closed at dVAL..
Range and volume quite lower..Buyers done poor job of not able to extend above morning open high and left poor high top.
Bell balance profile. Imbalance possible next.
Next session buyers need to hold the tail at low and look for clean range extension higher above 19525..Failing to do so or once made extension higher and not able to sustain and back below today value area could move towards 19440-19425 zone if sustains more weakness.
5th day of one time frame up.
Swing long from 19310 probed till 19520 now. Negation now moving to 19460.As discussed in commentary, some supply distribution seen today.If they get a squeeze above 19545 then next leg starts upside else one dip possible hence moving negation now.
Charts and data :
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