Scenario1 Rotational play between 34220-35330 yielded good result. On Friday we saw Scenario 2 with breakdown of 34220 short. Market should be attempting 33433 next, and then the 32427-32167 region. Should market reach 32427-32167, wait for price reaction.
Play scenarios mapped out: 1) Test of 34220 breakdown, and continue toward 32167-32427 region 3) 32167-32427: If level is broken and later market returns to this area, and is supported, next may be an attempt for an upward move 3) 33433 is supported and market attempt higher levels.
Price reaction levels Short on Test and Reject | Long on Test and Accept
Weekly: Average volume wider spread down bar close off low = weakness with some demand Daily: High volume down bar closing off low = weakness with some demand H4: UHV bearish absorption + high vol down bar closing at low = weakness
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