Post-open Review… Settling in.

Gap down not extending. Not ,yet.

The pre-open PPI reaction gapped down to the same 2178.00-2179.00 open of the prior two sessions. They had found sponsorship through the morning. Not today. The first minute blipped-down to 2176.75 and then bounced back up.

Actually, “bounced back up” exaggerates things. Price has firmed choppily back up to 2181.00, still overlapping the open. So, the gap down may not have extended deeper, but it also isn’t being rejected.

Choppiness aside, the pattern should creep higher to 2183.00. That would overlap yesterday’s cash session close by several ticks. The pattern’s next leg should be much cleaner trending — if not reversing to resume and extend the gap down as is likelier, then potentially drifting higher into the close.