"Trend guide 4378-84
Above and the potential to move towards the 5-day highs (R42 points)
Below the 5-day 50% level, and the bias is to move down towards 4310"
SPI Weekly and 5-day pattern
SPI Weekly and 5-day pattern.
I’ve been bearish since the highs last Friday but I would have expected price trading below 4313 by now.
However, that down move was reliant on US markets moving down on Wednesday and not up, based on the Weekly 'sell' pattern.
Today was about making sure that you were trading on the right side of the 5-day filters, either UP or eventually when 4378 failed down.
The down trend reversal on the SPI will need to see the 5-day lows breakout, which have jumped up to be trading @ 4296
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