Based on Monday's levels it might struggle to rise beyond 4552-56
Below 4516 and the bias is to follow the Daily range towards Monday’s lows"
SPI Weekly and Daily Range.
Monday had an early rise from 4516 and then a reversal pattern towards the lows after reaching a high @ 4552 (random resistance)
The continuation down into Monday’s lows wasn’t a high probability pattern, it was a ‘validation pattern’ only confirmed once price moved below the Weekly 50% level & 4516
Anything below 4516 and the bias was to follow the Monday range lower, as well as the S&P 500 continuing down during globex hours at the same time.
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