That area of interest is around 4953”…… Thursday’s Report
Friday’s morning Report:- “Yesterday completed the down move into July's lows, and around these lows I'm expecting a reversal pattern back towards the July 50% levels.
Yesterday I mentioned that once price reaches 100% of the Weekly timeframe (4953) there is often a reversal pattern in the market.
Last night the sycom low was 4951.
A bullish day should continue higher from 5013 and move back towards 5042.
5042 is a random resistance/support zone.....
Above and expectation market is moving back towards the 5-day 50% level 5107 :- just be a aware of any break higher from 14:35, which is often the case on Friday's as buying comes in"
SPI Daily and 5-day pattern
Today: pretty well played out precisely, from the lows in sycom, and the move from today’s open from 5013 (monthly lows) and back into 5042.
After most of the day trading below 5042, late buying comes in the last quarter of the day pushing the market back towards the 5-day 50% level @ 5107, but as often as it happens hit a double r44 range and sellers come into the market around the spiral top.
Weekly SPI Report tomorrow
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