Thursday, October 21, 2010

20.10.2010 market review

- yesterday market reacted as expected from 19.10 day structure (double distribution with close in the middle).
- support was found at the mean of the 2 distributions
- open was in the area of the mean, it wasn't a very confident open, as price auctioned down and then back through the open; but it was more confident then the day before
- price found S at O, in B period and start a trending up, building acceptance above 19.10 high (which was a poor high)
- VA was built in the upper zone of the profile, overlapping slightly with previous day
- the shape of the profile looked like "p"
- the shape of the VP is looking as a double distribution, with separation made by singles at 1171.25
- the last swing down was stopped by VVAH of 19.10 at 1173.50

- ON profile looking like a "b" (but with a take off to the upside from a balance area); with ONL= S@11772.00 just above the singles; ONPOC@1174.75; and the ONH@1182.50 just 1 tick above the high

- initial S@1177.25=VPOC
- S1@1173.50; forming a S area between S1 and S2
- S2@1172.50(HVN)-1171.25(singles)
- levels of S identified previous still stands

- initial R@1180.00 BAH
- R1@1182.50 ONH

- the balance area scenarios applies, with an eye on the levels identified above

No comments:

Post a Comment