US30USD YM1! DOW 2022 MAY 08 Week
Last week, previous demand at 32427-32167 returned to support the market, so
we have scenario 3 where market returned to test the recent 2 highs.
Market is now again approaching 32427-32167. Again wait for price reaction
to this level.
Play scenarios mapped out:
1) Scenario 1 extension toward 32167-32427 region for a breakdown
2) Market rotates between 34027 and 32167-32427
Price reaction levels
Short on Test and Reject | Long on Test and Accept
36446 35750 35330
34945 34027
33066 32492 32167
Weekly: Average vol wide spread down bar close of low = strength
Daily: Ave volume down bar closing above mid of bar but off high = minor strenth
H4: Ultra high vol down bar closing off high followed by average volume
up bar closing off high = weakness
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Have a profitable week ahead.
