Resistance 4906 & Support 4858
4906 is seen as resistance levels on Tuesday, but we must acknowledge that the SPI is trying to reach the March highs @ 4917-39
SPI Weekly and Daily range…
There were two patterns today based on the R42 range and the daily range, as per morning report.
#1. Move down from 4886 into 4858 and then continue up towards Tuesday's highs & 42 points
#2. 4886 pushes the market up in early trading & into resistance levels @ 4906
At the end of the day #2 ended up playing out.
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