Dow gave out presents last week with a good short opportunity. Broadening downward wedge = demand returning. Watch 29639 = CRITICAL SUPPORT.
Possible scenarios: 1) Long if 29639 / lower trend line support holds 2) Short if price breaks down 29639 on high volume and returns to test on lower volume. 3) Short on rejection of upper trend line // 30636 4) Bullish break out of wedge: Long on test and accept of breakout
Price reaction levels Short on Test and Reject | Long on Test and Accept
32789 31793 31385 31042 30636 30202 29639 29315
Weekly: Higher vol & narrower spread down bar, close off low = minor demand (ave vol on bar itself) = demand coming in Daily: Ave vol down bar close off low = No Supply H4: Vol showed buying on the downtrend. Coupled with possible SPRING setup
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