SPI Weekly Report

Weekly Charts show a bearish pattern with overall target the November 50% levels.

The overall technical pattern is bearish, and this is also confirmed with price trading below the 3-day cycle and Weekly 50% level.

Bullish set-up is a rally on Monday from 5-Day 50% level back towards the 3-day highs. A break of the 3-day highs and my expectation is that over the next 3-5days price is heading back towards 6737.

This is obviously not a forgone conclusion, that will only happen if US markets push upwards also, because a bearish pattern would reverse back down on Monday taking out Friday’s lows and following US markets down....

Premium Report to follow on Monday...