ES1! SPX500USD 2022 JUNE 27 Week
ES1! SPX500USD 2022 JUNE 27 Week
Last week Scenario1 3642 + Historical Demand returned to support market.
Volume analysis expressed caution as price advanced on low volume, which
may be a long trap. Wait for price reaction to the
possible test levels and channel resistance
Possible Scenarios are considered:
1) Test of 4071-4204 = wait for price reaction
2) Channel rejection for possible short
3) Test of 3706/3800 and finds support = long
Weekly: Low vol up bar close at high = caution, possible weakness + reversal pattern
Daily: Low vol up bar closing at high = Caution, possible weakness
H4: High vol narrowing spread up bar = caution, possible weakness
Price reaction levels:
Short = Test and Reject | Long = Test and Accept
3878 3800 3706
3642 3600 3540
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