SPI Monthly"I favour a continuation of the trend lower, as part of the monthly high reversal pattern.
There is also a breakout of the Thursday low @ 4911, which should push down into Friday's lows: - minor break and extend pattern..
42 points down matches Friday’s level @ 4875"
SPI Weekly and Daily range…
Weekly low support in sycom, but I still have the expectation that price is moving towards the April 50% level by the end of the month @ 4739
However, I expected far more weakness in US markets this week, but they continue to hover around their own April highs without reversing down.
If US markets follow a similar lower Friday close then the SPI will open lower on Monday.
Lower Friday close is based on the double monthly high pattern
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There is also a breakout of the Thursday low @ 4911, which should push down into Friday's lows: - minor break and extend pattern..
42 points down matches Friday’s level @ 4875"
SPI Weekly and Daily range…
Weekly low support in sycom, but I still have the expectation that price is moving towards the April 50% level by the end of the month @ 4739
However, I expected far more weakness in US markets this week, but they continue to hover around their own April highs without reversing down.
If US markets follow a similar lower Friday close then the SPI will open lower on Monday.
Lower Friday close is based on the double monthly high pattern
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