04/02

Levels 04/02

From intraday:

The high was 1417.75 – this is the closest we came to what I identified as a target 1419 on Thursday. This is upper resistance for now.

Balancing took place in overnight session near previous VPOC and HVN 1403 just after the opening.

The HVN 1409.5 was intraday Resistance and Support.

I expect these levels to provide some support on a move back down.

From composite:

I have drawn an orange box around the key area 94-97.5. Large volume is building at the MCVPOC at 1397.5 / HVN 1396. This area also contains MCLVN 1394 / MID of Current balance at 1393.75. This MCLVN gives the composite double D distribution – should be strong support*

Below this:

As I kept saying 1387/1388 support – I expect this to continue to provide decent support. I have a trend line in orange which needs to hold for the up-move to continue. A higher low above the 1387/1388 area will confirm continuation higher.

As said before below 1387/1388 I expect a test of 1377, 1371.5.

* The balance low is 1371.5 and the high I am using is at 1415.75, the area where VPOC formed today. The upper level HVN was 1419 but is now 1417.75 as todays vpoc has moved the HVN line lower.

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One thought on “04/02

  1. upside targets still 1427,1441:

    “lets see if we can get back to HVN 1419 and then to HVN 1427.5 (also the 127% extension of the current 1371.5-1415.5 balance). Afterwards potentially to HVN 1441.5/1442.25 (161% extension of the current balance). This would make a 50-70 handle balance, something that seems possible given recent action”.

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