lower open (below 4794) the SPI should move down 42 points and then consolidate for the rest of the day, being supported around the Weekly 50% level, and then continuing down during sycom. (if US markets continue down)"
Premium Report
SPI Weekly and 5-day pattern
Open outside the 5-day lows and expectation price is breaking out and extending downward. How far it goes down will depend on US markets on Tuesday.
Today played out as I though it would, lower open and down 42 points (4751)
Because price was trading near the Weekly 50% levels, I though those levels along with the r42 range spiral low would form a robust support zone during the day session.
Now it’s into the night session ,and see whether US markets follow SET-UP B and Weekly 50% level support…
Or SET-UP A:- Tuesday trending down into the 3-week lows.(hopefully)
- Daily Trading Set-ups & Analysis
Posts
