Value built below the overnight low yesterday after the NK foreign minister headlines saw a liquidation break. Market internals were not overly weak though and the sell-off did not gain any momentum once it moved to the low of the 85.00-87.75 zone where responsive buying stepped in and moved back above the open into the close.
2495.00 represents yesterday's overnight low, the initial balance low and the VAH for the cash session. Holding above this level keeps the short term bias more bullish and acceptance below could be a sign that the market wants to re-test yesterday's VAL or lower. However, we could get a buying response ahead of that at yesterday's mid (92.50), VPOC (92.00) & POC (91.25).
Overnight so far the market has ranged between 92.75-98.25 versus 97.00 settle.
Adjusted zones for today are below