paradox677

ES1! SPX500USD 2022 JUNE 27 Week

CME_MINI:ES1!   S&P 500 E-mini Futures

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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