While prices are in a downtrend, they still opened higher this morning leaving a gap on the chart. Prices have already filled that gap (Target = 6674.25) and there is a break of the downtrend channel as I am typing this up. While the daily chart appears to be forming a reversal type bar at the moment, it is still very early in the day, so that could easily change before the day is over.
Prices should attempt to retest the lows of the downtrend, so that is the expectation at this point, meaning the trend is still down for now. That could change at some point, and this could end up as a completely different day in the end. For now, the trend and bias are both down, so stay with that until the price action shows us otherwise.
