Bearish
medium confidence
- Why
- it has been falling for several sessions in a row, and in the latest ones it has often set the day’s high right at the open. If it opens where it’s trading now, it will do so with a up, below zone A and with bond yields at highs. Gaps like this tend to close. is medium: the overnight session was bullish.
What the analysis is watching
- Reaching zone A and turning lower (even if it briefly goes above it and quickly drops back below), or losing zone B and holding below it. In between, patience.
- Zone C, where the gap would close.
- Breaking zone A and holding above it.