ES1! SPX500USD 2022 MAY 30 Week

29 May 2022

ES1! SPX500USD 2022 MAY 30 Week

Last week looks like a million alpacas pushed demand and market ventured into
previous rotation zone.
Note: Strongest demand volume sighted last week.

Possible Scenarios are considered:
1) Test and reject again from rotation zone and market will then test lower levels
2) (a) 4091-4135 becomes support for long
(b) 3943-3974 becomes support for long

Weekly: Ave volume up bar = minor strength + reversal bar
Daily: Low vol up bar = weakness
H4: High volume up bar close at high = strength

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

4874 4800 4740
4631 4584 4525
4433 4368 4303
4133 4091 3947
3902 3855 3720
*3913-4000 (previous high demand area)

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Have a profitable trading week.