NF (August) Weekly Profile (22nd to 28th Jul 2022)
16955 [ 16965 / 16452 ]
- Friday: NF continued previous week’s imbalance with a higher open after which it made a typical C side extension lower as the attempt to get into previous range was rejected leading to a daily FA being confirmed at 16620 and a Neutral Extreme (NeuX) Day Up as it went on to leave an extension handle at 16698 & made new highs of 16765 with volumes building at 16736 into the close.
- Monday: NeuX has a notorious reputation for not giving any follow up and the auction not only opened lower but left an initiative selling tail negating the FA of 16620 but made similar lows of 16577 & 16575 leaving a ‘b’ shape profile for the day with a prominent POC right at 16620
- Tuesday: NF gave an OTD (Open Test Drive) down from 16620 & left another initiative selling tail in the IB as it formed another ‘b’ shape profile for the day closing in a small spike lower to 16486
- Wednesday: The downside imbalance continued at open as the auction tested the middle of previous week’s mid-profile singles while making a low of 16453 in the A period and for the first time this week left a small but important buying tail in the IB marking the return of aggressive demand as they left extension handles at 16536, 16592 & 16652 forming a Trend Day up with a close near the highs of 16688
- Thursday: The imbalance close led to a gap up open as NF not only recorded new highs for the week but left another small buying tail in the IB just above the weekly IBH of 16750 along with an extension handle at 16814 triggering another trending move higher for most part of the day to hit 16961 in the J period before it gave a late pull back in the K & L periods but left a PBL right at VWAP at 16897 trapping some weak shorts and went on to give new highs of 16965 into the close giving back to back Trend Days.
The weekly profile is a Neutral Extreme One to the upside with completely higher Value at 16705-16957-16963 with the VWAP at 16738 which will be the important reference going forward as the new August series gets underway.
BNF (August) Weekly Profile (22nd to 28th Jul 2022)
37422 [ 37449 / 36313 ]
- Friday: BNF opened this week with an Open Drive to the upside moving away from previous week’s value with an A period buying tail from 36458 to 36358 & formed a Double Distribution Trend Day with the dPOC at 36515 & the DD zone from 36565 to 36651 as it made a high of 36869
- Monday: The imbalance to the upside continued with a swipe to 37028 at open but saw some profit booking & long liquidation as the auction left an initiative selling tail in the IB & formed a ‘b’ shape profile for the day filling up the DD zone taking support at the yPOC of 36510 and giving a good bounce to 36910 but stalled in the morning singles
- Tuesday: For the second consecutive day we had an initiative selling tail in the IB as BNF failed to get new demand and probed into Friday’s buying singles which was defended resulting in another ‘b’ shape profile for the day in a narrow range of 381 points between 36770 & 36381
- Wednesday: The auction made marginal new lows for the week at 36313 at open & was swiftly rejected as the buyers came back strongly to leave couple of extension handles at 36484 & 36588 and formed a Trend Day Up to hit 36860 into the close
- Thursday: BNF continued the Trend Day momentum with a big gap up of 276 points along with an almost OL (Open=Low) start at 37107 as it left another buying tail in the IB along with an extension handle at 37304 and made multiple REs to the upside but settled down into a narrow range between 37304 & 37412 for most part of the day building volumes at 37372 forming a ‘p’ shape profile with a mini-spike to 37449 into the close
The weekly profile is a Neutral Extreme One to the upside with completely higher Value at 36709-37357-37441 with VWAP at 36943 & has confirmed a FA at 36313 which remains valid above 36848 for the 1 ATR objective of 37670 & higher as the new series begins.
