With FA at top and neutral day on Thu and with exhaustion structure, observation was that if buyers failed to get drive from 18320 probe was for 18240/18200..NF gone for drive down after gap down open towards 18215 then failed morning drive to print a dd up profile and closed at dPOC.
Same observation as said in last report.. This DD profile from Friday now printed double print tail from large tail zone of 08/05 but data wise still not yet ready to clear this exhautstion top happening above 18350. Unless gap and drive or drive from 18320 with volume, tough to sustain above this compoiste happening..Please refer the chart below for composite of May which is having skewed top and required fill inside composite.
So, no gap/drive to take out of this composite high means probe is back again towards 18240/18200.
Friday NF printed double distribution up profile. 18330-18310 support for next session..Sustaining this zone is strength else weakness back to lower disbn and double print buying tail left at low.
Levels wise for next session, failing to stay below 18300 and move above 18340 could get 18370 and drive above that good for 18410/18440. Weak below 18310 for 18270/18240/18210-1895/18165 if sustains 18120-18100/18065-18040 possible.
Charts :
Daily
Weekly
Monthly
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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