Looking good for the bounce at/within 2885 levels. Bounce above 3242 will make bulls to take control. Any rejection at 3242 or 3180 will make way to bears.
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Friday price respected 2885 levels, just 1st hour candle got spilled below 2885 making low of 2855, rest of the candle respected the level and day closed at 2955 (shows demand coming), which is above AVWAP from DEC lows and as well VPOC of DEC-18 lows to FEB-20 high swing. Now, bounce to 3140 or till 3240 is very likely in form short covering.
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Bounce to 1st resistance is done - 3137 is 3rd march high. Closing at 3003.
Now, VPOC (2924) of current swing from low need to be watched for any further bearishness.
Now, VPOC (2924) of current swing from low need to be watched for any further bearishness.
Trade active:
VPOC 2924 didnt hold, price plunged to 2380. Expecting good short term bounce around 2325 - 2360 levels. Failing to take support will take price to 2070-(1800 AVWAP of 2008 bottom~ reasonable bottom)