my view is that Friday is moving continue higher, as part of a weekly HOOK pattern (higher Friday close)
more buying towards Friday’s highs, but it needs to remain above 4205 after 2.50pm.
SPI Weekly and Daily range
Early rise from 4177, and it remained above 4205 for most of the day.
My view was that price would continue higher after 2.50pm, reach the daily highs on Friday, but then continue lower next week:- higher Weekly open selling down from Monthly resistance levels
However, instead of moving upwards late in the day….sellers appeared when price dropped below 4205 sending the SPI towards a lower daily close.
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