NF had FA top NC day in last session. They had a open higher straight away negating FA but could not sustain above PDH then started moving down. Not able to stay above 19805 and move below 19765 expected to probe 19735 which got whipped with a move only till 19750 swipe then gone for two way balance, later ended with spike up close.
Another neutral day and it is neutral extreme up today.
Sellers attempt failed today and they are likely to give another squeeze for one more push up as discussed in commentary. Auction looks incomplete at close.Staying above 19815 probe is for 19890/19940+.
Spike close. Marking 19815-19870 as spike zone..Stay in/above spike = strength else weakness.
7th day of one time frame up. Monthly got clean extension above 19570 and in the process of setting up second disbn range..Max a session or two could set the range high then could move down for second disbn balance on monthly. 19735 immediate swing support now and 19500-19550 band solid support till close of month.
Levels wise for next session, not staying below 19820 and moving above 19845 could get 19870 and above that 19895/19920-19930 possible if sustains 19970-19980/20010 probe. Not able to stay above 19910 and moving below 19865 could test 19840/19815 and weak below that for 19780/19750-19740
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 :
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.
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