This graphic identifies the key Structural resistance, 94.50s, and the Monthly POC, 95.80s, overhead which were key levels in the event of a buyside directional phase.
Our daily statistical study plotting key reference levels/price action for 24May and projected levels/inferential analysis for 28May.
Result?...
Following Monday's holiday shortened Globex session, Tue's auction saw initiated buying drive price higher to 95.92s, at/near the Avg Daily Range High, 95.83s, before developing the Stopping Point & Balance into the close.
Recent behavior shows of 22 NY sessions in April, only 3 exceeded the Daily 1st Std Dev.
Knowledge of this data helped inform subscribers of the statistical fact that there was a high probability of the market achieving the Daily High at/near this area on a confluence of structural, statistical, and order flow signals.
Exit of long positions at/near that level, and/or initiating of short positions were appropriate in congruence with today's market structure.
A holistic view based on the market generated data and probability logic.
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