Buy pull back










-Where did the market open in relation to the previous day's value and then what happened?

market extends up in the initial balance range, seller initiated selling and test down side, meet strong responsive buying at lunch time, lower area was rejected with single extreme print on volume chart. Price back to initial balance area, and price sees responsive selling at the top level of initial balance area, no single extreme line.

-What is the net activity - extremes, range extension, value area? Initiating or responsive?
Initiating selling in the morning could be a profit taking, but responsive buying bring price back up is not very strong, looks like a consolidation session with bull flag, but buying is not accompanied with up volume accordingly.


-What is your conclusion ?

further upside movement will have stronger resistance, Even it is Friday people seems feel comfortable to keep their long over weekend, also price leads the volume in the afternoon, seems buyer still has work to do. I don't know.