SPI200 bounced off support but expecting sellers to kick it up a gear

Potential Sell Alert

 

SPI200 Index Futures

The SPI200 today bounced off a key support level after a minor washout but it could all be for nothing if the sellers kick it up a gear. Price action has been weak the last few days after a washout of resistance at 5773 and now the move lower looks set to continue. We expect to see a lower high build below 5730 and then a sell entry setup to give us the opportunity to ride the price down through 5684 potentially to 5604. We will watch how it plays out tonight.

Index Code : SPI200

Current Price : 5713

Status : On Watch for lower high and sell entry setup