Below support and has a bias to move down:- random length 42 points
Major resistance @ 4430. (Weekly 50% level)
SPI Weekly and Daily range
SPI opened below support so my expectation was early resistance with a downward bias, as long price remained below 4385.
However, that didn’t last long and the SPI rallied into 4430, which provided major resistance along with the spiral top at the same price and a reversal back down.
Trend remains bearish but looks like a tight 5-day pattern this week:- choppy
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