US30USD YM1! DOW 2022 APR 04 Week
US30USD YM1! DOW 2022 APR 04 Week
Market encountered weakness and attempt for higher prices
were rejected. The week ended with minor support on
Friday's low.
Play scenarios:
1) Rotational play between 34220 - 35330
2) Test of 34220 and supported = long opportunity
3) If 34220 is broken and resisted = short opportunity
4) Test of breakout area 33433 and supported = long opportunity.
Price reaction levels
Short on Test and Reject | Long on Test and Accept
36446 35750 35330
34945 34367 34220
33427 32492 32167
Weekly: Low vol upthrust bar closing below middle =
potential weakness. (if next bar closes lower, weakness is
confirmed)
Daily: Average vol up bar closing above middle = strength.
H4: UHV down bar followed by high volume up bar closing
off high. Some support but supply still present.= minor strength
Remember to like and follow if you find this useful.
Have a profitable week ahead.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.