So far this looks to be another range type day with mixed trading. Prices could take off trending at some point, but this feels more like consolidation after the large rally we have recently seen. If consolidation is in fact what we are seeing, some sideways movement that relieves some of the overbought pressure is what we will be dealing with, and that is usually just sideways and mixed with some possible and occasional fast moves in both directions.
Do not rule out a correction or even more trending to the upside though. Just stay flexible and follow the price action. If it does start trending, switch to trend rules and go with it. For now, I would call this a range day with mixed trading.
