Not enough, not yet.
Recovering the open”s slide is less than half the battle.
The 2070.25 bias-down target was never actually touched. So, a probe under overnight lows down to 2067.50 was never in-play. Having attacked 2070.25 to within 3 ticks prevented it from becoming “unfinished business below” when left outstanding as the bias environment lapsed.
Speaking of which. The bias environment lapsed around 2080.00-2082.00 — more at the lower-end than upper. And that”s not optimal for trapping the open”s sellers, forcing them to help fuel further recovery.
Back above 2082.00 would still be credible for extending the recovery into positive territory, as would triggering the 2083.75 bias-up signal. “Compensating for the delay” would suggest a steep and substantial rally, probably into tomorrow morning.
It”s getting late for any more “backing-and-filling” that still recovers. Back under 2078.50 would start to signal the recovery had failed, and a much deeper downleg is underway.
