The globex session saw us trend downwards, narrowly missing the 52 target we had yesterday by 1 tick. Today's session could go one of two ways for me. Firstly to break out and liquidate even further we need to the 38.25 vpoc from Thursday and the bottom of this upper balance we have seen for the past 3 rth sessions. IF we break the 38.25 area we may see continuation to the 31.75 level which will balance last nights globex session downtrend. However if buyers can keep price above the 38.25 area we may then be in for a slow grind back into the 3 day range that we have been in and maybe test the highs once again.
The 3 day balance profile also shows us an imbalance to the downside needed to get to 38.25 for this to be balanced. Happy Trading.
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