US30USD YM1! DOW 2022 JUNE 20 Week
Last week shorts reigned. The week ended with demand coming in to support the market.
We may see long opportunity near 29639 temporarily.
Else, wait for price reaction to 29639.
Possible scenarios considered are:
1) 29639 support fail for short continuation
2) Channel and 29639 support: Return of demand for temporary long opportunity
3) If market retrace on low volume to higher levels and is rejected = short
Price reaction levels
Short on Test and Reject | Long on Test and Accept
32563 31299 30999
30157 29639 26212
Weekly: High vol wide spread down bar close off low = demand has come in.
Daily: High vol down bar, narrower spread and closing off low = strength - demand has come in
H4: Last 2 bars combined = UHV down bar closing in middle = Demand present
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Have a profitable week ahead.
