Prior Session was Cycle Day 2 (CD2):Risk-Off selling continued unchallenged during this cycle day, fulfilling lower range violation levels. Prior range was 93 handles on 1.772M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us intoCycle Day 3 (CD3): Price is currently below CD1 Low (3987.25). Historical odds favor recovery of this level, although current “risk-off” sentiment is firmly entrenched, so potential is high for a “failed” 3-day cycle. As such, estimated scenarios to consider for today’s trading.