NF had a clean extension higher in last session via double distribution up day above 4days balance.Buyers job next was to defend 24430-24450. NF had a open in upper disbn of last session but IB itself started accepting below 24430 which lead to large liquidation down.Marked probe till 24315 then till 24215-24205 below 24425 which NF did quick post IB then all day filled back large extension then closed around dVAH zone.
Large selling tail and liquidation day clearing below 4days balance.
This liquidation day now marks 24420-24460 zone as good swing resistance. Could spend day or two minimum holding this band, filling the large balance. Later, moving above this band could start fresh leg upside. As long as this band holds, looking for fill back towards 24305/24265-24245/24190/24145/24090.
Volume and data today was heavy with supply side and last hour bounce not seen much of buying or ease of supply data wise. So, odds of rotation down in today value in next session as long as no drive up/squeeze early in the session.
Levels wise for next session, move above 24415 could get 24445-24455 if sustains then 24490-24505/24535/24565/24590 possible. Not able to stay below 24280 and moving above 24355 could get 24390/24420/24445-24455. Failing to stay above 24415 could drop to 24355/24330 weak below that for 24305/24275/24240-24230 quite weak below 24220 for 24190-24175/24145/24115-24090.
Charts and data :
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