Higher Weekly open and trading down from resistance:- 2-day pullback
Today:- higher spiral point then the day session needs to complete the move down into 3719"
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SPI Weekly and 5-day pattern
Higher spiral point on open and expectation there would be some selling down into 3719, which was a random support pattern today:- exit and move to the sidelines.
Tuesday ended up a consolidating trading day around upper resistance levels...
Whilst price is trading below 3768 there is an expectation of a pullback into the Weekly 50% level @ 3611
That down move needs to be trading below the 5-day 50% level.
Otherwise, after a 2-day reversal pattern or consolidating trading pattern above the 5-day 50% level often the market can follow another higher Weekly move towards 3845.
That will depend on US markets on Tuesday and whether price is trading above 3768.
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