SNOW LongBroader Market Structure
SNOW has been in a clear downtrend for several sessions, forming consecutive lower highs and lower lows. The downside continuation was confirmed by the CHoCH at 228.41, which marked a break of the previous bullish correction and re-established bearish control. Recently, price created a BOS at 268.22, but that BOS occurred after a corrective push into higher-timeframe supply and does not yet shift the broader trend; instead, it signals that the bullish leg was likely just a retracement within a larger bearish structure. Overall, the main trend remains downward, with the current pullback acting as a potential setup for a bullish short-term correction before sellers re-enter higher.
Supply & Demand Zones
The supply zones above 240–244 and 266–271 are strong because price dropped sharply from each one with decisive bearish displacement. These zones have consistently capped bullish attempts, showing strong institutional selling pressure. The demand area at 228–232 has proven supportive: buyers stepped in with strength at the extreme low and created a sharp reaction upward, establishing the CHoCH. This is the only meaningful demand currently holding price up and is the base of the expected bounce.
Price Action Within Your Marked Region
Price is currently pulling back toward the grey demand zone near 228–232 after rejecting the lower supply at 240–242. Within your marked area, price is stabilizing and showing a potential slowing of bearish momentum, which often precedes a bullish corrective leg. If buyers defend this demand again, the chart supports a push back into the 240–244 supply block. However, if the demand fails and price closes decisively below 228, the bullish scenario collapses and the downtrend resumes aggressively.
Trade Bias, Expected Direction & Invalidation
The bias is short-term bullish as long as price holds above 228.00. Expected direction is a bounce from demand toward the 240–244 supply zone. A break and close below 228 would be the key invalidation and shift the outlook back to full bearish continuation toward 220.
Momentum & Candle Behavior
Momentum currently favors sellers but is slowing; the most recent downward candles are losing range and showing smaller bodies, which often signals seller exhaustion near demand. No strong reversal candles have formed yet, but price behavior suggests it is preparing for accumulation rather than continuation.
