1. opens below the 5-day 50% level @ 4834 and the bias is to move down into 4815
Around 4815 and the SPI continues down and follows the 5-day pattern lower into Monday’s lows @ 4781 and down towards the Weekly 50% levels.
2. Completes the move down into 4816, but doesn't move down, and once again price moves into another sideways trading day with price consolidating below resistance @ 4852 (R42 high)"
Premium Trader
SPI Weekly and 5-day pattern
SPI followed option two, moved down into support @ 4815 and then rotated upwards.
Rising up from support @ 4815 and closing Friday’s gap with a R42-44 high and resistance @ 4852.
The rest of Monday remained range bound closing around the 5-day 50% level @ 4834
- Daily Trading Set-ups & Analysis
Posts
