Looking at the daily perspective we can see a strong one-time-framing lower behavior that occurred for six days. Today the market found support around the previous Year's VWAP close level and Friday's high has been taken out. We still need to be careful with any ideas. Yearly VAH close level, as well as the developing VAL (-1.0 standard deviation of the Yearly VWAP), are possible areas or levels of resistance.
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Moving forward to Friday's TPO profile structure we can observe a rotational close with a balanced shape of the profile. Today the market opened inside of value and found support at the VAL close level to surge higher above Friday's high. We have seen then a pullback to the VPOC (volume profile based) to surge higher once again. Today's profile could close as a balanced profile, therefore we still monitor and lean us on the extremes of the balance.
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