"SPI is opening below the August balance point, and at this stage I'm leaning to SET-UP B playing out.
The critical level today is simply going to be 4933-4....if it moves down the expectation it's moving towards the red channel lows @ 4859.
Look for short-covering after 14:50 (44 points) from support"
SPI Daily and 5-day pattern
SPI played the 5-day pattern precisely on the way down into support.
Around support was choppy for about 1 hour, but after price settled, the short-covering came into the market.
Weekly Report Tomorrow.
- Daily Trading Set-ups & Analysis
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