The Range bar price action still remains in Friday's range, and will complete below the 5-day lows @ 4552
I would normally look at this pattern as a 5-day breakout, which in theory should extend outward. That means a high around 4552-54 and then a reversal back down towards Monday's lows again"
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Expectation the trend was heading lower, after the initial rise upwards today.
This began from a precise spiral low @ 4507 and rise up towards 4552-54
Today was classic break and extend pattern using the lows from Friday, along with the spiral top pattern.
Once the price pattern was complete (R42 up) there was an expectation that price would continue down towards the Monday’s lows:- break on Friday, retest the break on Monday, and then extend downward on Monday.
Unless US markets start the week with a 2-3 day UP move, (which is a possibility) the expectation remains that the SPI is continuing down towards the February lows (day session 4441).
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