Last week 4525 presented long and short opportunities. Preference will be to short on retracement.
Play scenario: 1) Test & Rejection of T+R area for short 2) Rejection of 4525 for short 3) Rotation play between 4631-4525
Weekly: Ave volume upthrust bar closing off low = some demand present. next bar will confirm if market is weak. some demand Daily: Average volume up bar closing of high = supply present H4: Vey high vol up bar = strength (caution of supply present)
Price reaction levels: Short = Test and Reject | Long = Test and Accept
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