January 12, 2011

Again Extreme volatile Day - Double NV day ??

Today's Profile ..charts speaks it all..what a volatility!! After weak IIP data market saw steep fall made low of 5711..and then rotated there for nearly tow hours D/E/F/G period low was 5711-12..finally giving upside break, moving away from previously formed Balance areas,closing near days high.
such days are rare , as had RE on both sides, hitting 200% of IB range ..so can we call this day Double Normal Variation day ?? Will discuss with fellow MP traders.
Notes for tomorrow,
Move away from last 2days balance area 5780-5834 (12 Dec) and 5827-5855 . so if 5850-5860 levels hold we can see some more upside.
Levels to watch on upside are 5927-5960.

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