Potential bull flag on ASX futures (SPI 200)

The ASX 200 cash market rose for a second day, although the SPI 200 futures closed flat with a potential bullish pinbar on the daily chart. The 1-hour chart also shows a potential bull flag, which projects a target around 7640 (or the Feb 2nd overnight VPOC - volume point of control).

For today, bulls could seek pullbacks towards 7580 - 7587 (overnight VPOC) in anticipation of a break higher. Or wait for the break to enter long.

Upside targets include 7600, 7614 (cycle high), and 7640 / 100% projection.