However, there is also a possibility that before any up-trend continues price can come down and test the 5-day 50% level and 3-day lows:- 4816-21
Trend guide 4866
SPI Weekly and 5-day pattern
Slow trading day that didn’t manage to complete a 42 point range.
With the open below 4866 my expectation was an early push down (21 points) and then the possibility to move towards the 50% level.
However, once above 4866, the expectation was to continue upwards and complete the move @ 4892…
Instead the SPI remained range bound within 21 point ranges.
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