SPI is in a 3-day Sell cycle, and with the expectation that price is pushing down towards June 50% level before any UP move is going to play out.
The 44 point range needs to complete from Friday's range before Monday begins, therefore the critical level is going to be 5720....
Note: A higher spiral open and a higher Channel normally favours selling the open down"
SPI 15:30 Recap
SPI sold down from open and followed the 5-day pattern lower towards June's 50% level.
Once channel lows were reached market went it a consolidating reversal pattern...
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