Last time (being 11:30) on my 2000 tick chart it was a much bigger drop that did the little bounce before putting in the low then zippered for a while before catching an updraft. I am seeing the zipper right now so it could break down out of this, or not. But if that overnight low goes the gap should fill fast you would think. Still enough time left for an ugly close or a boring in range close.
If the triangle doesn't break up this will be a retest of the May 14 high that has failed. Potential sell signal for longer time frame traders, so a lot riding on this un-inspiring day. Maybe they can make another comment about Chinese trade this evening.
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