SPI Trading 17th September 2008 recap



SPI 16:05 Recap

SPI opened above the 5-day 50% level @ 4803 and moved up into July's lows @ 4836.

July's lows formed resistance forming an R44 Hook, back under the 5-day 50% level, pushing the spi down into 4762.

Once the next r44 closed below 4762, then the bias was to move back down into September lows @ 4701 once again

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