Friday's bar showed rejection of 34945 - 34800 region. A Our response to market's attempt at retracement should then be to short. Per 11 Apr's analysis, Market will likely head lower should intermediate support 34220 becomes resistance, adopt a short on retracement preference.
Play scenarios: 1) Rotational play between 34220 - 35330 2) Breakdown of 34220 and this becomes resistance, market may test 33433 and 32200 region. 3) Test of breakout area 33433 and supported = long opportunity.
Price reaction levels Short on Test and Reject | Long on Test and Accept
Weekly: Low vol down bar closing off low = minor strength Daily: Average vol down bar closing at low = weakness H4: Average vol down bar closing off low = minor strength. Read of the last 3 bars showed S>D.
Remember to like and follow if you find this useful.