10:25SPI opened above resistance @ 5588 and is now pushing upwards into the 3-day cycle @ 5624...
5624 is a resistance level, but a break above the level and price is moving into the first stage of a the rotation back towards the March 50% level....as per Weekly report
The early rise into 5624 put selling pressure on the market, but it looks like the previous 5-day 50% level is a vaild support zone....
44 points upwards and Risk is 5632 (spiral top)...but it's above the 3-day high...
Personally I would have sold around the 3-day high this morning with the expectation that price would move downwards into the 5562 (partial exit 22 points down), but I completely forgot about the 3-day high....
The expectation is that price still needs to move down into an R44 low along with timeframe support for the best longs trades....
No trades this morning at this stage......
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