Tuesday Prep
We saw a reaction at initial support after the open and briefly tested higher to a tick below the prior open, then an aggressive push lower through the prior poor low, down to the composite low volume area (CLVA).
That area should have been used as front of the next support zone which was a bad miss on the prep. However, once back inside the IS zone it ranged between the IR and IS then back to IR into the close. I noticed large size trading into the 24 area around lunchtime, so an area to watch if we revisit. Overall volume was much lower though at 1.3m compared with over 2m on the prior two days.
Overnight so far the range is 2427.75-37.25 versus settlement at 28.00 (trading between the prior IR zone and the bull/bear zone).
Today's zones below are shown with a merged market & volume profile of trade following the sell-off. If the market fails to hold above 35-37 then I would expect rotation lower.
27.50-29.75 is the more aggressive area of initial support, then would look for the 23.50-25.25 zone to hold on first test if buyers are to stand a chance of regaining dominance. Below there we could see selling accelerate to try and re-test yesterday's low though will be looking for a buyers response at 17.75-18.50 if we get there.
Above the bull/bear I'd expect initial reaction at the 39.50-40.75 zone, and above there the anomalies from last week would be repaired at the next two zones.
Overnight & RTH split sessions