Yesterday the market found support around the mentioned balance area low of the prior daily and weekly bracket low. Today the market tried its way back into the Yearly developing value but found resistance around the DVAL, therefore the market one-time-framing lower below this year's developing value currently. Maybe the market can close above this Year's low to have a possible swing failure pattern.
As a follow-up from the previous VAL close level the market was able to find resistance around the developing VWAP + previous VWAP close level and established a pattern around these levels to get into a short trade. To be noted is also the confluence with the mentioned Yearly DVAL. We can use the VWAP and the developing value as a trend-following tool in such a scenario currently. Next possible area of support would be a prior value close area of the weekly VWAP perspective. Let's see where the market heading towards.
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