October 1

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Sellers were able to end Daily One Time Framing but there was no interest below the prior day’s range. Sellers even struggled at closing 30 minute periods below the 6700 psychological level. This resulted in a short-covering rally towards the prior day’s high and towards the top set of unfilled single prints from last Tuesday’s session. Notice that the top of the single prints was 6742.75 while today’s high is 6743.50.

  • Today’s short-covering rally left single prints in the profile between 6718 and 6720.50 and from 6723.25 and 6724.75. The bottom of these single prints at 6718 adds confluence to the 6715 BZ level.

Bullish Scenarios:

  • Longs above 6715 or above 6729 targeting 6758.

Bearish Scenarios:

  • Shorts below 6715 or below 6700 targeting 6670.

• ⁃ Shorts below 6670 targeting 6641.



Next

September 30