Weekend Chat 31/01 - Many Were Played, page-2

As speculated, after closing the 5853 gap, it was time for XJO to begin its journey to the upper side of the down channel (blue channel).
Overnight SPI rallied about 100pt off the low. Post 7am, IG SPI CFD (still trading till 8am) added another 30pt (thus far) making the rally size 130pt.

On IG, it's currently backtesting the previously broken 50% Fib level; Naturally rejected on the first attempt.

Closed another 1/4 of longs here given as mentioned IG currently pricing in a hypothetical 30pt gap up for Monday SPI open; plus it's 50% fib level; plus election time. Rest remains in as mid-term hold.

Next stops/questions to think about:
- Can it meet the other side of the blue channel? Needs another 30pt (on IG)?
- If so can it break and begin its journey to 6150 night opening gap (in due time)?
Election time of course; so it can quite easily get hammered again given political instability.

4hr IG CFD chart