SPI Daily 14th April 2009 recap

"Because there is a breakout of the 5-day blue channel, price normally moves towards the 5-day highs:- 3776-3795

The closer price opens to support 3710-15, the bias is to continue into a higher daily close with upside targets 3776-9"


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SPI Weekly and 5-day pattern

SPI opens above support resulting in a breakout pattern in the 5-day range, and price continues towards the Weekly highs...

A lot of resistance around these levels, especially around the Weekly highs.

First target of 3776 did play out, but I expected a move towards 3798 in late trading....

Instead sellers appeared around the highs once again.


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