US30 Intra-Week Analysis June 6th

Last week we got the bullish move to 32500 as expected then price broke above and continued to test the 33500 area, creating a supply zone at this price sensitivity area. We then had price reject and pull back to the key level 32500 and end the week within this intra-week range of 33500 and 32500. This week as we begin to see some buyers exhaustion and continued failure to break above 33500 we can expect price to maintain this higher time frame bearish structure and to make its way down to previous intra range lows of 32500. If we break below we can then expect price continue bearish back down to 31k. Other than that if we break above the 33500 area we can expect continued buys to 34k before more buyers liquidate positions and we see a sell off.