“Potential 14:20 pm buying into a higher close”
SPI Weekly and Daily pattern.
There was a breakout of the daily lows on Tuesday @ 4739 and a extension towards the Wednesday lows @ 4611.
Based on this pattern I would always to favour a swing back to retest the breakout, and in today's case towards 4697-4709 and resistance.
The SPI didn’t move down into support @ 4811 to provide a robust entry level, but as pointed out in the Premium report @ 13:55 ….
“after 14:20 if the SPI begins to trade above 4662, there is a potential continuation upwards in afternoon trading towards 4697-709
There is now a higher daily close, (1-day counter-trend) but still below the higher timeframe MAY 50% levels @ 4844 (bearish)
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