Short term SPI update.

Daily chart is the focus here showing the previously anticipated bearish pivot.This analysis also applies to XJO where we had a complex bearish pivot( XJO chart not shown).This bearish pivot did reverse the short term bias to negative or at best flat.

What can be the pivot ( bearish in this case) used for ?

Could it be to close of a long trade or initiating a high probability low risk short trade ?

Mini up trending channel in Blue is now thing of the past as can be seen.Larger channel support line/trendline in Red still in effect and now being tested.This support line is indicative of the intermediate term trend which is up, within a major downtrend, I must also add.If demolished expect lower levels being tested.

Analysis continues at my end.

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