NF Weekly Profile (16th to 22nd Sep 2022)
17647 [ 17943 / 17456 ]
- Friday: NF began with a move away from previous week’s Value with an initiative A period selling tail from 17766 to 17825 along with couple of extension handles at 17740 & 17654 as it formed a Double Distribution Trend Day Down taking support at the August Monthly POC & VWAP combo of 17530 while making a low of 17526
- Monday: The auction continued the downside imbalance with a probe to 17456 in the A period but confirmed a late Open Rejection Reverse leaving a long A period buying tail from 17572 to 17456 marking the end of the downside for the week and formed a short covering ‘p’ shape profile with a prominent POC at 17632
- Tuesday: saw a good gap up open which not only sustained but negated the Friday selling singles and went on to enter previous week’s Value tagging the prominent POC of 17922 while making a high of 17943 but could not scale above the VWAP of 17979 indicating supply coming in this zone as it left a Scene Of Crime (SOC) at 17915 & triggered a move back to 17803 into the close bringing the dPOC down to 17819 after it formed a HVN at 17872
- Wednesday:PLR (Path of Least Resistance) remained to the downside as NF left a small A period selling tail & probed lower till the G period after which it formed a balance for the rest of the day with Value being completely below yPOC of 17819 with a PBH at 17798 & a dPOC close at 17731
- Thursday: The auction opened lower below Monday’s VPOC of 17632 but took support at 17600 giving a swift bounce to 17719 in the IB where it got rejected from Wednesday’s VAL showing that the bigger time frame PLR was still to the downside resulting in multiple REs lower to 17542 where fresh demand from Monday’s A period tail forced a quick short covering move of 205 points as NF made new highs for the day at 17747 stalling just below yVWAP of 17757 as supply came back strongly to push it back to 17627 into the close leaving a Neutral Centre Day
The weekly profile is also a Neutral Centre one which is well balanced & has formed completely lower Value at 17564-17636-17768 once again pushing the auction back in that earlier 3-week overlapping zone and will need some initiative volumes early in the coming week to start a fresh imbalance moving away from the prominent POC of 17636.
BNF Weekly Profile (16th to 22nd Sep 2022)
40697 [ 41724 / 40413 ]
- Friday: BNF opened the week with a gap down of 322 points and left a small A period selling tail filling up the low volume zone of previous week’s DD (Double Distribution) profile for most part of the day before making a late RE to the downside in the I period tagging the weekly POC of 40664 and make a low of 40567 where it left a small responsive buying tail triggering a bounce back to 40922 into the close
- Monday: The auction openend with a test of Friday’s mini buying tail which held & led to a trending move higher as it formed a large 641 point range IB recording new highs for the week at 41232 but the dreaded C side extension to 41267 played spoilsport for the longs with a probe back down to 40770 into the close leaving a 2-day composite balance with almost similar Value
- Tuesday:made a move away from the 2-day balance with a big A period buying tail from 41450 to 41255 but could only form a ‘p’ shape profile after hitting new highs of the week at 41724 as early as in the G period indicating lack of fresh demand just below previous week’s selling singles8
- Wednesday: started with a A period selling tail from 41550 to 41440 and a balance in the first half before making a big RE lower to 40983 in the F period and followed it up with new lows of 40940 in the G but this entry in previous week’s Value was rejected giving a small bounce back to 41375 before closing around the prominent POC of 41269
- Thursday: BNF not only opened with a gap down of 267 points but left an A period selling tail from 41108 to 41618 and made a trending move lower till the H TPO where it made new lows for the week at 40413 but left a small responsive buying tail triggering a short covering bounce to 40997 in the J period leaving a PBH just below the weekly VAH of 41006 and made another rotation downside to 40617 into the close before settling down at the dPOC of 40711
The weekly profile is a Neutral one with completely lower Value at 40683-41115-41259 and has very neatly filled up last week’s DD profile with a nice balance and could start a fresh imbalance in the new settlement week ahead.
