NF had a emotional spike close in last session and expected balance in next session. NF gone for good balance in spike zone today then closed at low.
NF created value in spike i.e, accepted spike..Context wise bullish but as discussed in commentary all day supply controlled auction and they carried inventory home. As long as they dont get a squeeze above 21575 this supply eyeing for 21420-21390 zone probe minimum.
Failed auction at top.
Neutral extreme down day.
Sellers of this NE down day have to defend 21500-21525 band and stay lower for follow through below day low..Failing to do so could call for squeeze from them.
Today's auction suggests possible balance for a session or two before starting next leg up.
Swing obj still remains open for 21650/21850.Negation at same 21200.
For next session, not able to stay above 21490 could drop to 21465/21440 and weak below that for 21415/21390-21380 then could get bounce..Acceptance below 21380 could get 21355/21330-21310 which is again bounce zone. Not able to stay below 21460 and move above 21505 could test 21525-21535 and squeeze possible above this for 21570 if sustains then more bullish towards 21610/21640+
Charts and data :
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