SPI Weekly and 5-day pattern
Yesterday completed the move into the September highs, but there was an expectation of higher prices because of 2 patterns...
1. US markets were still rising up into their own highs
2. there was a breakout of the 5-day high yesterday @ 4633 with an expectation that the break will extend into the next highs on Thursday.
Today opened above the Thursday highs @ 4716
If below 4716 I was looking for a R42 reversal down as part of a retest of the breakout and down into 4656...
However, the SPI remained consolidating above this level....
And with the potential to continue higher on Friday , if US markets follow.
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