US30USD YM1! DOW 2022 SEP 25 Week

Sep 25, 2022

US30USD YM1! DOW 2022 SEP 25 Week

Dow gave out presents last week with a good short opportunity.
Broadening downward wedge = demand returning.
Watch 29639 = CRITICAL SUPPORT.

Possible scenarios:
1) Long if 29639 / lower trend line support holds
2) Short if price breaks down 29639 on high volume and returns
to test on lower volume.
3) Short on rejection of upper trend line // 30636
4) Bullish break out of wedge: Long on test and accept of breakout

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

32789 31793 31385
31042 30636 30202
29639 29315

Weekly: Higher vol & narrower spread down bar, close off low
= minor demand
(ave vol on bar itself) = demand coming in
Daily: Ave vol down bar close off low = No Supply
H4: Vol showed buying on the downtrend. Coupled with possible
SPRING setup

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Have a profitable week ahead.