Range 4902-4952
Trend guide 4925
SPI Weekly and Daily range
The SPI opened higher and moved down into the trend guide @ 4925 but then remained in a tight consolidating pattern for most of the trading day
I didn’t have a probability pattern on today’s direction other than using the resistance and Support levels, and using 4925 as a guide.
With price failing to open or reach 4949 to complete the 42 point range from yesterday’s lows in early trading, I had a view that there could have been a late UP move towards 4949 in late trading.
Price pushed upwards but then failed to continue towards 4949 and instead remained glued around the central levels today @ 4925-27
Expectation the trend is moving higher, but I would still like to see a reversal back down into the Weekly lows (April 50%).
Wednesday's shift in levels might provide the break for a reversal pattern. (lower channel rising)
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