YM1! US30USD DOW 2023 Mar 20

19 Mar 2023

YM1! US30USD DOW 2023 Mar 20

During the week, the formation of A-A1 rotation offered rotational
play opportunity.
Demand has built up, with weekly bar showing loss of selling
momentum. But it takes time for the vessel to turn, so wait for
support to manifest before going long

Possible scenarios:
1) Rotational play between 31750 - 32600 (approx 850pts range)
2) Continuation long = long on retracement, to test 33590
3) Short if 31747 was broken through and becomes resistance

Volume Analysis:
Weekly: Higher vol, narrower spread down bar close off low
= reduced downward momentum
Daily: Ave vol down bar close toward off (non-trend changing)

Price reaction levels
Short on Test and Reject | Long on Test and Accept

34689 32789 31747
31097 30513

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Have a profitable week ahead.