NF shown exhaustion and supply with lower volume narrow range in last session.Considered weak below 24620 for 24565 and 24535-24525 which they got via open drive with a move till 24540 then failed the drive and got PDH swipe in IB itself..then turned into wild two way auction with new low then bounce then getting large extn higher which pulled dPOC up then closed there.
Large outside day.
Failed auction at low with solid buying tail.
Neutral day and double distribution up day.
dPOc moved to upper disbn and volume+data at close with buyers.they need to defend POC zone and get drive up and once done never accept back below POC to stay as bullish day..If accepts below POC then odds for filling extn singles/test extn handle then bounce odds.
Swing support 24590 nicely got whipped and then moved to 24790+..If they are planning for fresh leg upside after today's higher volume session, then 24660 fresh swing support. As long as this holds, balance and skew higher possible. 24660 goes means balance to reversal possible.
Levels wise for next session, move above 24830 could get 24855-24865/24890 if sustains 24905 then 24935-950/24980/25015-25030. If fails to stay below 24680 and moves above 24720 then could get 24750-760/24790-24805/24835. not able to stay above 24880 and moving below 24800 could get 24775/24750 weak below that for 24720/24690-24680 then bounce higher else 24640-24630/24595-24580/24545 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.
Commentaires