Identifying Market Excess: Other Time-Frame Buyers
Posted below is an interesting candlestick chart showing a singe print tail below value.
The other time frame buyers stepped in as they percieved price to be too low. After a weak morning session, the afternoon rallly was fairly signiciant pushing prices back into value and above the openng price. The bulls have gained a temporary victory. The market excess created by the single print tail around 11310 will be a key support in the future.
Also notice the 11400 mark. This has been a key resistance point for the last 2 weeks and looks like it will continue to do so.
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James Lee - Founder
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