Mid-day Update… Last chance for gas?

Fresh lows not gaining traction.

This morning’s bias-up signal became invalidated, and fell to its 2650.50 bias-down signal. That seems like sellers are patient. They did produce fresh lows into the noon hour that met this afternoon’s 2642.00 bias-down target to within 3 ticks.

But now this afternoon’s bias-down signal has avoided triggering. And the noN-bias environment doesn’t prevent rallying above the bias-down signal.

noN-bias doesn’t require the 2651.25 bias-up signal to define the window’s upper-end. In fact, it was probed by 8 points. The likely upside objective is still 2662.50, but it doesn’t require being met. And the decline may resume.

Exiting the bias environment (or entering the final hour) above 2662.50 would suggest that sellers from yesterday’s high are done. Meanwhile, breaking under 2642.00 would simply point down.