Significant Weakness observed on daily bar (Friday 09 June) as market is marked up on ultra low volume S>D bar. If mark ups on low volume continues, tighten stops and don't chase longs. Prepare to look out for short opportunity.
Possible Scenarios: 1) Market continues to be marked up on low volume narrow spread up bars = tighten stops on longs / wait 2) When additional weakness emerges = Short on test and rejection of recent high / lower high
Price Reaction Levels Short on Test and reject | Long on Test and Accept
16646 15269 14575 *Longer term: 13350 needs to be supported for long trend to be intact.
Price Volume Analysis: Weekly: Ave vol up bar close off high = NTC weakness Daily: 09 June ultra low volume S>D up bar
*NTC = Non-Trend Changing
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