However, whilst the market is below 4910-16 my view is that price is moving down towards 4888 (42 points down from Monday’s highs).
SPI Weekly and Daily range.
Early resistance from 4910-16 of 21 points (twice today), but a failure to complete the move down into the Channel lows (R42 points).
At this stage, whilst the market remains above the higher timeframe level of 4883, the Primary cycle trend is towards 5093.
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