Pre-market Chart

Good morning traders!

Prices are trending between the overnight highs and lows. That described a typical range market. There are some potential downtrends working lower as you can see on the screenshot. One of the trends broke and prices retested the lows at the overnight lows. The other one seems to be still intact. We need more price action to confirm this bigger channel. If the overnight lows remain strong prices will bounce off there and test the highs again.

The bias is neutral to down. If prices can break the range and stay below it I am looking for short trades.

Good trades to you!