SPI Monthly and Weekly cycles.
The MAY break-n-extend pattern completed at the June lows, and the trend is now rising back towards the July 50% level and 3rd Quarterly 50% level.
Those levels are seen as resistance, with the expectation that the Trend is continuing lower:- June lows and 3785
However, A weekly close above those same levels (resistance) will likely see price continue to trend upwards until the Start of September:- 2-month wave pattern.
