NF stopped 4days of one time frame down with marginal high above PDH via spike close in last session.If buyers of spike got commitment then expected them to get drive or gap to move higher further for 16250+..NF got a clean gap today and got a move higher to close at high.
It was slow trend day after large gap up.
Volume was on lower side..Buyers next need to defend 16220-16210 zone and look for accepting above 16310 old tail zone to move higher further towards 16380-16400. Failing to do so could rotate down towards 16210/16150/16120.
Inside week got range extension higher now.As mentioned in weekly observation, 16100-16050 good swing support now. Holding this band, we could look for sideways to skew higher towards 16380/16500.
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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