ES1! SPX500USD 2022 AUG 01 Week

ES1! SPX500USD 2022 AUG 01 Week

Market has reached previous supply zone.
Preference is long on retracement.

Possible Scenarios are considered:
1) Continuation of uptrend for long on retracement
2) Supply returns to reject higher prices. If market
exits uptrend and is rejected, possible formation of range 4071 to 3742-3642

Weekly: Ave vol up bar close at high = strength
Daily: Ave vol up bar close off high = minor weakness
H4: Narrow spread UHV followed by high vol up bar closing below middle =
weakness

Price reaction levels:
Short = Test and Reject | Long = Test and Accept

4071 3950 3742
3642 3600 3540

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Have a profitable trading week.