Prices rallied during the overnight session but have backed off of the highs since the regular session opening at 8:30 AM CST. For now, prices are mixed and mostly sideways and choppy. There is a gap on the chart this morning due to the higher opening at 8:30 AM CST. If prices attempt to fill that gap, that target will be down at 7713.25.
Note that there was a close outside of the small tight range on the daily chart yesterday. Prices could snap back today, as most breakouts will fail, even if only momentarily to retest the breakout area. Let the breakout prove its intent and be certain of what prices are doing before entering in either direction.
For the moment, I would call the bias mixed, with maybe a very mild upward bias. That could change at any moment though, so follow the price action and stay flexible. Do not guess or get locked into in one direction unless you get a longer-term “confirmed” trend line proving that there is a trend in place.
