Wide Point of Control

Market Profile Chart - Wide Points of Control

Trends remain down on the longer time frame charts with price one-timeframing lower (weekly/monthly), but potentially beginning to form a new short term balance on the daily/weekly charts. Look for price to potentially revisit the wide point of control (POC) from Monday’s balanced profile on Tuesday. Price acceptance above the prior POC could target the still unfilled gap from 10/5, 10/6, potentially targeting the prior prominent POC from 10/6 at (around 3773).

If trend remains down and price finds acceptance below Monday’s wide POC, look for price to potentially revisit/repair anomalies from the 10/14 profile chart, Friday’s low, and the lower distribution in the elongated profile chart from 10/13.

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