Neutral day with dPOC skew down in last session. Sellers needed to stay below POC next session else expected to look for overlap session in value area.They pushed below POC in IB but quickly started accepting above POC then all day remained higher with value overlap then reached VAH and selling tail.Not able to stay below 23465 and moving above 23505 marked for a probe till 23600/23640 and they moved till 23630 then closed at dVAH.
Outside day and noncommitment by data suggested could look for balance between 23400-23650 for the week. We stayed inside this range as inside day today.3days clean bell balance now. Buyers advantage at close..They need to defend 23565-23540 and push higher to test FA zone next around 23660 if sustains more upside possible..Once moved higher should not accept below 23600 if happens then back to filling 3 days range.
Levels wise for next session,Not able to stay below 23570 and moving above 23600 could get 23630 bullish above that for 23660 if sustains 23690-23710 possible.Further bullish above 23720 for 23750/23780/23830-23840. Not able to stay above 23680 and moving below 23600 could get 23590/23550-23535 and weak below 23530 for 23500-23490/23465/23435 if sustains 23410/23380/23350 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.
Comments