Pre-close View… Prone.
Firming off of support.
This morning’s 2120.00 low was retested by 1 point. But it is getting a little late to break out from the range. And final hour wasn’t entered any lower than the bias environment range, despite exiting the bias environment under the noon hour’s low.
So, corrective bounce potential up to 2124.25-2125.00 is in-play. A bounce is still likely to resolve down, although that lateness again makes it difficult. Stopping short of its bounce potential might be the only path down today.
This morning’s original low developed over 5-10 minutes, but its retest lasted 45 minutes — not much of a rejection. But still likely to resolve down after a bounce. And there’s really no bullish reason to retest the morning’s low, since its bounce was already productive. So, any bounce is likely only temporary, whether or not resolving down today.
