So far today has the look and feel of a range type day. The daily chart also hints of prices still stuck in a sideways range as well. If the usual pattern appears today, we could see prices chop sideways a bit before settling into a larger bias that could be up or down.
Based on what I am seeing currently along with the recent price action, I would expect we will continue to see high volatility with prices quickly moving in either direction at times. At the moment, the bias is slightly up with an overall neutral feel. That could change more than once as the day progresses if this is to end up a range day.
Mack’s Daily Chart with the Envelope Bands/Strategy.