ES1! SPX500USD 2022 SEP 12 Week

ES1! SPX500USD 2022 SEP 12 Week

Last week's 3903 support provided fruitful long.
We have an engulfing bullish weekly bar. Possibility of continued
upward momentum, for long preference.

Possible Scenarios are considered:
1) Long if 4010 / 4095 is supported
2) Short on trend channel rejection / rejection at 4095 / 4010

Weekly: Ave vol up bar (engulfing bullish) = strength
Daily: Ave vol up bar close off high = minor weakness
H4: High vol bar + low vol UT bar = weakenss

Price reaction levels:
Short = Test and Reject | Long = Test and Accept

4303 4204 4029
3903 3743

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Have a profitable trading week.