Last week market found support at 3743. Trade remains guided by channel and reaction to price levels
Possible Scenarios are considered: 1) Market rotation = trade at boundary of range 2) Channel rejection / support trades 3) Behavior change scenario for long on retracement 4) Trend continuation
Weekly: Ave vol down bar close below middle = weakness Daily: Ave vol up bar close at high = minor strength H4: Ave volume up bar close off high = minor weakness.
Price reaction levels: Short = Test and Reject | Long = Test and Accept
4071 3950 3742 3642 3600 3540
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