ES1! SPX500USD 2023 JAN 23
Market didn't manage to test 4175-4094 area last week indicated
lack of demand, with the weekly bar displaying it more saliently.
Preference will be short on retracement.
Scenario Planning:
1) Short at rejection of trrendline or price levels
2) Long if price breakout of trend line, retraces and is supported
Volume Analysis:
Weekly: Low vol up bar close off high = No Demand
Daily: Ave vol up bar close toward high = No Demand
H4: Very high vol up bar close toward high = potential selling into
higher prices
Price reaction levels:
Short = Test and Reject | Long = Test and Accept
4175 4094 3928-3788
3580 3502 3231
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Have a profitable trading week.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.