Post-open Review… Bias-down, down, down.

Consequences of delay.

The overnight dip down to 2366.00 had reacted up to attack 2370.00. Its recovery was the minimum requirement to even begin rallying immediately post-open. Anything less would likely back-and-fill, if not actually slide.

But price already started sliding well before the open. Dropping back down to 2362.00 was retraced almost 4 points pre-open, but a post-open slide attacked 2359.00. The 2358.00 bias-down target was attacked before triggering bias-down.

Probing it down to 2356.00 came almost immediately after 10:15, which is too late to renew the bias-down signal. This is still a bias-down environment. Oversold RSIs at the low doom any recovery attempt to failure. Potential extends down Thursday’s 2351.00 low whose RSIs also require a retest.

Testing the 2355.00 upper-end of the consolidation at Thursday’s lows might suffice. Back above 2363.75 would start to signal momentum already reversing up.