Trend guide 4933, below and it’s pushing down 42 points towards 4891.
SPI Weekly & Daily range
Today:- Lower daily open and push down from 4933 & 42 points, and then price moved into a consolidating pattern around the lows
I'm expecting the trend to continue down, as part of the double top patterns in US markets and a lower Friday close.
This daily close below 4911 can often see a break and extend pattern:- next day lower open, which matches my view of US markets heading down
However, my only concern was the price action on Wednesday in US markets, as the trend should have continued lower and should be trading below the 5-day 50% level on Thursday.
Currently the shift in the 5-day pattern in US markets has price back above the Daily 50% level.
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