Today is playing out very similar to yesterday so far. Overnight and early in the trading session, prices rallied strongly, only to later turn down. We could still get an attempt at a measured leg up, but it will probably be after the gap is filled if so. If prices continue working lower in order to fill the gap, that target is down at 7412.25.
For the moment, prices are still pushing lower, although that downward channel could be playing out as I am typing this up. It looks as if prices will try and fill the gap before the downtrend might end. Expect mixed trading at times no matter how this day plays out and simply follow the price action and let it take you where it wants to go. For now, prices are still trending lower. Be patient and stay disciplined and wait on clarity.
