These levels have been resistance over the past few months.
Normally the reversals have been occurring around matching 5-day highs on the same day.
That's not the case on Thursday.
A move above 4028 has an expectation that price will push up towards Thursday's highs @ 4066"
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SPI Weekly and 5-day pattern
SPI completes the move into June highs @ 4042.
Around 4042 was a lot of resistance, but couldn't move back under Wednesday's breakout @ 4028.
Around these monthly highs have been major resistance levels for the past 3 months :- Dynamic model resistance levels.
There hasn't been a Daily close above these levels for the past 3 months.
We now have a Daily close above these highs:- Whilst above 4042 the next upper range is 4141
If we see a Friday close above these highs, then there is a larger primary reversal trend taking place that has a target around 4400.
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