US30USD YM1! DOW 2022 AUG 01 Week

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US30USD YM1! DOW 2022 AUG 01 Week

Last week market reached previous supply zone. Long on retracement continues.
And if price broken down of channel is is rejected,
target could be 30406.

Possible scenarios:
1) Continue of upward momentum for long on retracement
3) Rejection at previous supply zone + breakdown of channel for short

Price reaction levels
Short on Test and Reject | Long on Test and Accept

32563 31867
30406 29639 26212

Weekly: Ave vol up bar close at high = strength
Daily: Ave vol up bar close off high = minor weakness
H4: High vol narrow spread up bar followed by ave vol up bar close off high = weakness

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Have a profitable week ahead.