Prices gapped open during the overnight session, leaving a large overhead gap on this morning’s chart at the 8:30 AM CST opening. Prices then proceeded to rally in an attempt to fill that gap. Prices are close to filling the gap at this point and that target is up at 6863.75. The gap down at the open relieved some of the overbought issues on the daily chart, but prices are pushing right back into overbought territory with the rally to fill that gap.
For now, the trend and bias are up, but once that gap is filled, how prices react from there will better determine the type of day we might end up with overall. The Iran war is the main driver of the markets at the moment, and the news swings back and forth daily, so anything is possible. A correction is certainly due, but let the chart prove it out and do not attempt to guess at when that correction might come.

