Bias-down target met.

[pay]The ESu 1249’00 bias-down target was just met. The 1-minute RSI was oversold which makes the drop vulnerable to bouncing. The 3-minute oversold was not oversold, so a bounce wouldn’t be required to fail.

If still holding short for possibly extending the decline, its next lower target is 1246’50, then potentially 1235’00, so long as bounces hold any test iof 1250’50.

This new relative low might qualify as a false break from Friday’s range to allow a recovery to begin – I’m not making that call yet. It’s a too early for a recovery, perhaps  an attempt closer to 11:30 would be more credible. Regardless, any strength is only noise, and possibly only a corrective bounce, unless/until recovering above 1253’25 through a relevant timing window.

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