SPI 10:58SPI has continued down into yesterday's lows, and hopefully it can rise upwards from these lows using the channels...
But with the price action today and the R44 reversal, price is all of a sudden below the 5-day low @ 5395, which suggests further weakness, and could end up down into the 5-day lows
At this stage price does favour a rotation back down further, and any longs around here is only viewed as a short term long trade, back up into 5395 and exit.
Entry 5378 Stopped 5372 -6
Note:- price could be heading down to the 5-day lows, which aligns with the Weekly 50% levels, as this is has been my view since last week.
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