"Early trend guide on the SPI is going to be 4723...
If above it's pushing up towards resistance levels @ 4744-52.
Below 4723 and consolidating pattern around support @ 4696"
SPI Weekly and Range.
SPI is currently trading above the monthly 50% levels with a bias to continue higher.
However, based on the current price action in the daily range I’m treating the SPI as consolidating within the daily range and looking for short-term patterns of 21 & 42 points using support or resistance
After initially continuing higher from 4723 into resistance levels, today remained range bound with little movement around the top.
If above it's pushing up towards resistance levels @ 4744-52.
Below 4723 and consolidating pattern around support @ 4696"
SPI Weekly and Range.
SPI is currently trading above the monthly 50% levels with a bias to continue higher.
However, based on the current price action in the daily range I’m treating the SPI as consolidating within the daily range and looking for short-term patterns of 21 & 42 points using support or resistance
After initially continuing higher from 4723 into resistance levels, today remained range bound with little movement around the top.
Any short-term reversal back towards the monthly 50% level this week is either going to happen based on price action in US markets...
Or Thursday's set-up (tomorrow) using the levels in the daily range
- Daily Trading Set-ups & Analysis
- Index Futures SPI, DOW S&P, & Forex
- Subscribe to the Trader Premium
- http://www.datafeeds.com.au/premiumtrader.html
Posts
