The trend and bias have been down since just at the 8:30 AM CST regular session opening. Prices look as if they are trying to rebound some after the 9 AM CST PMI news took the market even lower. The overall bias is still negative, but that could be changing as I am typing this up. The green channel looks to be in play, but it needs a bit more price action to prove it out, so just watch that one for now.
The mid-line on the daily chart continues to hold, but if that should give way, prices could push much lower. If it ends up holding as support, prices should make another attempt at a new high. It is difficult to say what prices will do, but follow the price action and let it show you where it plans to go.
