ES1! SPX500USD 2022 JULY 04 Week

2 ביולי 2022

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.