Short preference last week proved very fruitful. The spring over the last daily bar shows rejection of lower prices and demand overcoming supply (D/S).
Scenarios: 1) Long on dip opportunity in the 22389-23000 region as temporary strength returns 2) Should Support 22389 fail, short opportunity on test of break down area to next demand region
Weekly: High volume down bar closing off low = strength Daily: Average volume down bar closing at high = strength H4: Average volume shakeout bar closing at high = strength
Entry will be based off the price reaction to these levels Short on Test and Reject) | Long on Test and Accept