NF had quite a whipped auction last session leaving two days well balanced composite then closed as NE up day. Post IB expected directional move today and NF started moving below VWAP of NE up day post IB which lead to solid all day liquidation then closed at low.
5IB down day.
Cleared last week low.
Entered into lower composite of Feb which got value as 21980-21820-21725. Hence 21990-22020 resistance now. Auction incomplete at low today.Holding below 21990-22020 in first session looking for balance to skew down auction towards 21860 which should hold and bounce for a overlap in today lower balance via two way auction.
Balance in first session then moves above 22020 means could push higher towards 22050/22080 then reject else 22120/22160-22180 probe possible.
If sustains below 21860 test of 21820-21790 then bounce again possible..Below 21780 could move to 21725/21660.
Charts and data :
Notes :
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