NF had gap up and buying tail with higher value day in last session..Clearing selling tail expected next and then buyers further expected to defend value area else buying tail test expected..NF had a gap up open but could not defend value and gone for PDL/gap close quick. Staying below 23580 marked for 23515 then till 23420.They gone for this move quick then bounced off from 23430 to clear day high which left tail top then closed at dPOC.
Neutral day with dPOC skew down then closing there. Sellers need to stay below POC next session else could look for overlap session in value area.
Outside day with failed auction at top and buying tail from swing support zone..Suggests possible to have balance roughly between 23400-23650 for the week.If stays below 23400 then more liquidation odds.
Day looks like good inventory adjustment session and not seen any major inventory carried by any party to. So,not having any intent at open with volume, odds for overlap session next.
Levels wise for next session, move above 23540 could get 23570/23600/23640 if sustains 23680-23690. If fails to stay below 23465 and moves above 23505 then could probe 23540/23570/23600/23640. Not able to stay above 23560 could drop to 23530/23500 and staying below 23495 weak for 23465/23435 if sustains further below 23410 then could move towards 23380/23350/23325/23280/23250-23230.
Charts and data :
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