NF had heavy volume triple distribution down day in last session..Swing move was done yet was the obseravtion..It got gap down and drive down with volume to print another liquidation day then closed at dPOC.
Large tail and liquidation profile.
6th day of one time frame down.
Holding below today tail 19010 could have overlap next in today value area and below PDL another liquidation move possible towards 18920/18870/18840-18820.
Not able to stay below PDL and moving above 19010 could get sm squeeze towards 19040/19075-19090 which is strong resistance to rotate down back to 19040-19020 and back to PDL. If accepts 19090 then 19140/19180 possible.
Swing move obj done today at 18950.3days of strong liquidation and no sign of buyers yet..Staying below 18950 opens up next leg down towards 18840-18820/18760-18720.Minor resistance for swing now at 19090 if cleared then could see few sessions of balance..Swing negation now moves to 19310.As long as we hold below this, looking for this leg to stay live towards 18820/18720/18600/18400/18250.
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