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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