Good Morning,
The SPI200 June 10 contract triggered an initiating sell tail in the opening phase yesterday, to distribute out of the development. The market extended to a rejecting responsive buy tail at 4896 and development resumed through the remainder of the session.
The market resumed the distribution lower in the overnight market, extending to another rejecting responsive buy tail at 4860 and rotation back inside the development to close 4911.
Key resistance is at 4922 and 4933.
Key support is at 4904, and 4896. A break at 4896 opens potential for a rotation to 4875. Key support follows at 4853/50.
Resistance: 4915, 4922, 4933, 4941, 4945, 4950, 4956, 4962/64
Support: 4909, 4904, 4899, 4891, 4884, 4879, 4867, 4862, 4853/50
Value Area Levels (Source Bloomberg)
Previous SYCOM and Day Session 4914 to 4952
Overnight Session Closed 4873 to 4907
Have a good day.
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