Some concern with weakening upward momentum.
Possible Scenario:
1) Market attempts last supply 15160. Keep stops tight if long
and if bar spread is narrow, market may be trapping longs.
2) Due to weakening momentum, market may test lower levels
for long on retracement opportunity. The retracement has to
come down on lower bearish volume.
Weekly = Average vol up bar closing off high, mark up on
narrower spread = weakness
Daily = Average vol down bar, close above middle, but level with
previous bar = No supply
H4: Level closes, shortening of thrust = weakness
Price reaction levels:
Short on Test and Reject | Long on Test and Accept
16767 16481 15992
15492 15160 14685
14443 14025 13666
13025
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Have a profitable trading week ahead.
