NF had a outside day with good volume in last session.Supply was there in system in that rally at close and next session expected squeeze early in the session for them..Not able to get so expected good balance in value area of last session. NF had a open auction and attempt to push higher above PDH failed to sustain and gone for IBL then remained in tight balance all day to close at dPOC..
Neutral center day.
3-1-3 profile with bell balance and tails at both ends.
Failed auction at top today..Sellers need to defend this FA top and overlap down auction then sustain below 21020 for follow through further.
Indecisive day from both buyers and sellers but buyers defended their support zone 21020-21040 zone today all session..Same ref for buyers next session and as long as this holds skew higher is bias for next session..Imbalance session possible next after such bell balance today.
4days composite balance now.Swing support same 20940 and holding this looking for 21180-21210/21320.
For next session levels wise not able to stay below 21040 could push back to 21065/21090-21105 and above this 21130-21140/21180/21210/21240 possible. Not able to stay above 21130 could drop to 21075-21060 and weak below that for 21035-21020 if sustains 20995/20965/20940 possible.
Charts and data :
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