ES1! SPX500USD 2022 AUG 15 Week

ES1! SPX500USD 2022 AUG 15 Week

Previous supply zone has been tested and accepted.
Preference remains long on retracement.

Possible Scenarios are considered:
1) Continuation of uptrend for long on retracement
2) Temporary short opportunity on rejection of channel supply line.

Weekly: Ave vol up bar = minor strength
Daily: Ave vol up bar = minor strength
H4: High vol narrow spread = weakness

Price reaction levels:
Short = Test and Reject | Long = Test and Accept

4368 4303 4204
4071 3950

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