
-market opens 8 points lower and in middle of three value areas, initiating buying in A and B periods, seller steps in and market rotates down in C period, meet buyer's responsive buying and push price back up to the top of value area in F period.Seller initiate directional move in G period....buyer has not much interests to bring up quickly. Price is barely holding at bottom of value area - 682.
the responsive buying is getting weaker at each bounce, the market is going to get imbalanced once cross 682. 682 was crossed at 13pm period, bring in heavy selling. Sell tips volume to downside at 3pm period again, responsive buying lift the price to 676. rotates between 672 and 676, a newly developed value area.
-no net buying, initiating downside range extensions get smaller and smaller, seller get less confidence, but responsive buying get weaker too.
-Market is testing the lower but seller hesitate, the responsive buying is weak too, buyer seems still waiting for lower value and not interested in current level.
No comments:
Post a Comment