Post-open review… Holding up, but holding out.
Probing overnight highs has yet to extend.
Regardless of whether the overnight rally were to resume immediately, or to pullback — and regardless of whether that pullback were shallow, medium or deep before resuming the rally — this morning”s bias environment was unlikely to trend down.
The open did immediately probe above the 1964.50 overnight high to 1969.25. Then it reacted down to test this morning”s 1956.50 bias-up target as support. Support held.
At least, so far. Overnight highs are being probed again, albeit still short of the open”s high. The renewed bias-up target is 1973.00, along the path to eventually test 1986.00, 1996.00 and 2000.00.
Back under 1960.00 would target 1949.00, although that would be more credible after the bias environment began lapsing.
