ES1! SPX500USD 2022 JULY 04 Week
Last week market found support at 3743. Trade remains guided by channel and
reaction to price levels
Possible Scenarios are considered:
1) Market rotation = trade at boundary of range
2) Channel rejection / support trades
3) Behavior change scenario for long on retracement
4) Trend continuation
Weekly: Ave vol down bar close below middle = weakness
Daily: Ave vol up bar close at high = minor strength
H4: Ave volume up bar close off high = minor weakness.
Price reaction levels:
Short = Test and Reject | Long = Test and Accept
4071 3950 3742
3642 3600 3540
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Have a profitable trading week.
