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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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.