Buyers of last session got gap today and after holding auction almost for entire session they could not save IBL and gone for neutral day with liquidation to close at low.
Failed auction at top.
Neutral extreme down day.
Spike down. 19329-19385 spike zone. Stay in/below spike = weakness ; Accept above spike high = strength.
45 degree move away from wide dPOC..Sellers job now to create value in spike/below spike for entire session next.
One more time NF got rejected failing to stay above 19390. Large time frame players keen to reject it again. 19415 now swing res. As long as staying below 19385-19415, probe is towards 19265/19230 then bounce possible.If sustains further liquidation possible.If accepts above 19415 then push higher towards 19460-19480/19530 then rej else more to follow upside.
Levels wise for next session, move below 19330 could probe 19300-19290/19265 and weak below 19260 for 19235/19205-19190/19165/19125. Failing to stay above 19390 and move below 19365 could test 19330/19300-19290/19265. Not able to stay below 19290 and move above 19340 could get 19370-19385/19410 then acceptance above 19415 possible to get 19440/19470-19480 if sustains 19515-19530.
Charts and data :
Detailed plan with references to carry forward, actionable trade hypos for next session, any importance nuance from the day and view based on weekly and monthly time frame are available to members in private blog.Above report is only part of it.
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.
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