ES1! SPX500USD 2022 JULY 04 Week

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.