O 37780 37760 37740 37720 3770o 37680 37660 37640 37620 37600 37580 37560 37540 37520 37500 37480 37460 37440 37420 37400 37380 37360

No downtrend materialized. The next bar failed to make a new low and closed higher than it opened, creating a reversal bar and a double bottom.

The following bar reversed again. What had happened was that the trading range was still there, only it was getting wider. To me, that means a weakening market If it were getting tighter, I would expect an explosive move. However, when a congestion widens, I expect short non-tradable trend legs until the market widens out enough to make the legs worth trading.

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