NF had balanced profile closing at low in last session..Buyers job was to sustain above 22290 and failing to do so expected to drop into old spike zone then sm liquidation expected..Sustaining below 22240 marked for 22170/22100 then bounce expected.NF had a weak open and stayed lower below last session VAL which lead to one time frame down clearing old spike low to get 22100 in first session then bounced from that weekly support zone finally closed below dPOC.
3-1-3 profile with tails at both ends and well balanced profile. Sustain value area = trend else look for mean reversion to other end of value and look for follow through.
Spike low of 22 gone but good swing support zone responded to stop intra one time frame up move..At close, inventory with sellers who had to defend 22190 zone and do overlap in value area then later should look for staying below 22110 for more downside auction to clear PDL and then get composite VAL zone 22050 and below..Not able to staying lower and accepting above 22190 could lead to squeeze to move back into Friday value area.
Levels wise, moving above 22190 could get 22215/22240 if sustains 22270/22300/22330 possible and further bullish above 22335 for 22370/22410-22420. If fails to stay below 22110 and moves above 22150 then 22180-22190 then all remaining obj as said above possible. If fails to stay above 22180 and moving below 22140 could get 22115/22090-22085 if sustains 22080 then 22050-22040/22010-21995/21965/21925/21890 possible..
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