ES1! SPX500USD 2022 OCT 17

ES1! SPX500USD 2022 OCT 17

Market testing for demand after breakdown of 3580.

Possible Scenarios are considered:
1) If market forms a rotation, possible LONG opportunity
with test of 3808
2) Scenario for breakdown: Lower highs observed, or market
hanging around 3580 level. Short on test and reject of
breakdown area (since most breaks are normally false breaks)

Weekly: Ave vol down bar close off low = minor demand
Daily: Ave vol down bar closing at low = minor supply
H4: UHV down bar close at low = some demand

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

3903 3808 3580
3502 3350

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Have a profitable trading week.