NF had FA top and NE down day closing at low of bell balanced profile in last session.Supply was in control and expected them to get minimum 21420-21390 zone.They gone for this move via ORR down then bounced from that old support zone which pushed for PDH swipe then closed at dPOC.
Outside day.
Secured low and high.
Negated last session FA top.
Squeeze was expected above 21535 and 21570 but seen sm good profit booking and minor supply at highs today. Suggesting this is not yet ready to move away and likely to stay in balance. Roughly 21390-21485-21630 zone now for balance to take place.
Supply at top today could probe 21490-21480/21450 zone then bounce possible for next session.For upside they need to sustain above 21580.
Swing obj still remains open for 21650/21850 as volume is back after a pause. Negation moves to 21380 from 21200. If that goes then one sharp move down possible towards 21320-21290 zone then bounce else 21220 zone test then bounce.
For next session, not able to stay above 21570 could drop to 21535/21515 and weak below that for 21485/21455 if sustains 21425-21415/21390-21380 possible.Not able to stay below 21480 and move above 21515 could test 21540/21570-21580 if sustains 21615/21640/21670 possible. Not able to stay below 21450 and move above 21490 could get 21515/21540/21570-21590.
Charts and data :
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