Trend guide 4839
Support 4812-16
Resistance 4863"
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SPI Weekly and 5-day pattern.
No probability on direction today, it was simply a case of trading as close to the levels in the market and trying to take 10-20 point moves.
I expected a small range day, with early resistance around 4839 (50% level) and a push down 21 points into support, and then some form of buying back towards the highs.
Instead 4839 resisted price but didn’t fulfil my early expectation of a move down into support, and then a late spike upwards after 3pm tried to continue towards 4863.
One thing I was right about, I did expect a small range day and the best focus was 10points either side of 4839.
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