ES1! SPX500USD 2023 JAN 23

ES1! SPX500USD 2023 JAN 23

Market didn't manage to test 4175-4094 area last week indicated
lack of demand, with the weekly bar displaying it more saliently.
Preference will be short on retracement.

Scenario Planning:
1) Short at rejection of trrendline or price levels
2) Long if price breakout of trend line, retraces and is supported

Volume Analysis:
Weekly: Low vol up bar close off high = No Demand
Daily: Ave vol up bar close toward high = No Demand
H4: Very high vol up bar close toward high = potential selling into
higher prices

Price reaction levels:
Short = Test and Reject | Long = Test and Accept

4175 4094 3928-3788
3580 3502 3231

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Have a profitable trading week.