Market testing for demand after breakdown of 3580.
Possible Scenarios are considered: 1) If market forms a rotation, possible LONG opportunity with test of 3808 2) Scenario for breakdown: Lower highs observed, or market hanging around 3580 level. Short on test and reject of breakdown area (since most breaks are normally false breaks)
Weekly: Ave vol down bar close off low = minor demand Daily: Ave vol down bar closing at low = minor supply H4: UHV down bar close at low = some demand
Price reaction levels: Short = Test and Reject | Long = Test and Accept
3903 3808 3580 3502 3350
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