NF cleared 13/12 low in last session suggesting more downside towards 24075 and below. It got large gap down today and probed 23920 then all day remained in balance then closed at dPOC.
Large gap down and lower value day as well as good tail at low.
Bell balance normal day..Odds for imbalance session next.
3rd day of one time frame down.
Supply if keen to continue further then should start accepting in buying tail of today..Not doing so and started accepting back in gap could get some relief move higher. Allow open session to settle then later accepts in gap zone then could consider long side next session.
3 weeks composite which had two good long side high volume days gone under water and resolved downside suggests long term weakness now..Pullback any should hold below 24310 or extreme case 24450 should not be violated..If that goes then solid reversal upside to clear 24650-24700/24850+ as swing move.
Levels wise for next session after some noise starts accepting above 24050 or gets drive with volume above 24050 at open then 24085/24120 reject else 24160/24195/24230-24250 possible and above 24265 could easily move towards 24305/24335/24370. Not able to stay above 24130 and moving below 24040 could get 24010-23990 weak below that for 23960/23930 bounce else look below 23910 could get 23865-23850/23820/23780/23750.
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.
Comments