Major support around the monthly 50% levels, however the intermediate timeframes are still in a downtrend ( below 3-day highs and weekly 50% level)
All Gaps on the daily ranges have now closed...
Fridays 6383
Tuesday 6425
and Mondays 6468
Wednesday:- opening in the middle of the 5-day range and it can go either way, however the risk level will be defined by the completion of yesterday's 44 point range for the first Spiral point to be formed.
If it moves upward on open it will be 6478 which aligns with the Weekly 50% level (resistance)
If it moves down into 6425 it aligns with the 5-day 50% (support)
Don't trade against the trend after the first spiral point is formed (Risk)
Premium report to follow...
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