Triple distribution trend day closed at high with dPOC skew higher in last session.Buyers needed gap/drive next..They got the same today with clean gap and then remained as short covering profile all session in tight range then closed at dPOC.
Gap up and buying tail.This tail ref for next session for buyers..Acceptance below 19815 weakness.
Buyers should get drive/gap higher after such P profile and then defend POC of this profile all session next.Failing to stay above today's short covering profile could move down to test buying tail zone and close gap.
After acceptance above 19660 and last session auction, swing move expected to get 19820/19860 which is done today..Acceptance above 19860 next could get 19920/19960. Minor support at 19735 now and strong swing support at 19660.
Levels wise for next session,failing to stay below 19815 and move above 19845 could get 19870 and bullish above that for 19905/19930/19955 if sustains 19990-20010 possible. Not able to stay above 19895 and move below 19840 could get 19815 and weak below that for 19780/19750-19735 if sustains 19700-19695/19670 possible.
Charts and data :
Notes :
a) Check glossary page in website if any of the terms used in the post are not clear.
b) If images are not clear, click on them for enlarged view.
Comments