Post-open Review… Really restrained optimism.

Post-open efforts absorbed by another downdraft.

The overnight recovery to 2142.00 had held up into the open, giving little excuse to delay retesting yesterday morning’s high around 2147.00. There being room to 2137.50 before suggesting that momentum is reversing down, a post-open dip under 2139.00 would be a compelling long-entry.  In fact, a post-open dip touched 2137.50, and recovered to a fresh high at 2143.50.

But that STILL couldn’t trigger the 2140.50 bias-up signal. Although 2140.50 was attacked to within 1 tick at both times, no-bias was triggered at 10:15, and wasn’t recovered at 10:30. An offsetting test of the 2128.25 bias-down signal is in-play.

Having said that, any credible reversal down should have been obvious early. It wasn’t. Instead, the overnight high was probed immediately, and a reaction down was recovered to fresh highs. Only then did price drop. Dropping to 2134.50 was still in positive territory, and its bounce limit was just violated.

After barely triggering no-bias.

So, buy signals will be considered, regardless of the unfinished business below at 2128.25. Back above 2139.25 would put into play fresh session highs, and a retest of yesterday’s highs, and higher. Meanwhile, back under 2135.25 would still target 2128.25.