Good Morning,
The SPI200 June 10 contract opened to a rejecting responsive sell tail at 4426, rotating lower to a distribution break. The distribution extended to a rejecting responsive buy tail at 4388 that rotated the market higher resuming price acceptance in the lower range and closing 4410.
The distribution lower resumed in the overnight session, to a rejecting responsive buy tail at 4352. The market rotated back through the session range to a rejecting responsive sell tail at 4425 and developed through the session in a 4354 to 4424 range to close 4366.
The market has resumed development following a rejection of the distribution lower overnight, and bias is currently for continued price acceptance in this range.
Key resistance is at 4372, 4388, a break opens potential for a rotation to 4416. Key level follows at 4431.
Key support is at 4352, a break resumes the distribution lower. Key levels follow at 4333/28 and 4283.
Resistance: 4372, 4379, 4389, 4396, 4406, 4416, 4422, 4428, 4435, 4445, 4452
Support: 4365, 4359, 4352, 4339, 4333, 4326, 4322, 4315, 4302, 4293, 4283
Value Area Levels (Source Bloomberg)
Previous SYCOM and Day Session: 4397 to 4427
Overnight Session: 4366 to 4409
Have a good day.
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