A break of the 3-day cycle @ 4804 will normally lead to a reversal pattern back towards the Weekly 50% level @ 4745
However, Tuesday looks to be range bound within the 5-day range:- support 4766-74"
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SPI Weekly and daily range.
Resistance around today's higher open but lacked the follow through on the downside on Tuesday towards the lows.
Expectation that there is a short-term reversal pattern towards the Weekly 50% 4745.
This will happen if US markets move lower on Tuesday, as part of a 2nd day reversal and the SPI opens lower.
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