Market ended the week within an 80pt rotation, pending resolution of Demand and Supply.
Possible Scenarios are considered: 1) If market remains in range, trade at boundary of range. 2) Breakout of range: Long if price retrace to test and finds support 3) Breakdown of range: Short if price retraces to test breakdown and shows rejection of higher prices.
Weekly: Ave vol down bar close off low = minor demand Daily: Higher vol up bar stopping supply = minor strength H4: Narrower UHV effort no result down bar followed by high vol up bar close off high = demand present
Price reaction levels: Short = Test and Reject | Long = Test and Accept
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