The late rally high from the prior day’s trading session was ignored as the market balanced inside the previous range, leaving a poor, no excess high at 2735.25.
Rallying from two ticks above the prior point of control at the third (C) period low, Tuesday’s value area ended the day as slightly overlapping to higher and the point of control had also migrated slightly higher during the day.
Potential scenarios could see price look above or below the one day balance and either accelerate/find acceptance at higher or lower prices, look above or below the balance and fail – potentially targeting the opposite end, or remain within or slightly extending the balance.
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