Buyers had dPOC skew in last session..Gap or drive was option for them moving above 17810 to get 17840/17870. Weakness was considered below 17770. They had a quite tight narrow range balance in first session defending 17770 and whipping around 17810 and later got extn higher towards 17870 then closed at dVAH.
8th day of one time frame up.
Straight 3rd day of narrow range lower volume session.
Double disbn up day and extn handle closed at close but still closed at dVAH. This second disbn extn looks again weaker one..Buyers have to defend this upper disbn for upside follow through.
We have now the structure of poor low day then poor value area day and today DD day on 8th day of one time frame up which given up extn handle at close. All this 3day structure happened under low volume. Buyers need to defend 17820-17830 and accept in upper disbn then should get follow through or better open higher and defend upper disbn for move higher..Not doing so could look for move back into lower disbn and more.
Levels wise for next session defending 17830 and moving above 17865 could get 17890 and further bullish above this for 17925-17940/17970-17980+ .. Not able to stay above 17920 and moving below 17860 could get 17830-17820 and weak below that for 17790-17780/17745-17735/17690-17680 and more.
Swing short below 17790 with negation at 17890 for 17690/17655.
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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