SPI Trading 4th February part 5

14:55

SPI rotating around 44 points, as it moves lower from the January lows (5962) and 5-day high (5993) back into the February 50% level 5895....

Depends on US market overnight, if they open higher, but the expectation is an early rotation back down towards the 5-day 50% level and the Weekly 50% around 5723....

Things needed is the gap closure @ 5840 (Friday's highs) and then back down towards the Weekly 50% level before any further gains in the Market....

Expectation January lows will play a major resistance zone...