Pre-market Chart

Good morning traders!

Prices were trending up during the night. Just an hour ago there was the news release of PPI data. As you can see, the market didn’t like the news. Prices dropped lower and tried to regain some losses. It is pretty much a range character today since prices are staying between overnight highs and lows. Try to find the shorter-term channels to be on the right side. There could be a potential second leg down, I marked it for you on the chart. If you see that prices turn and form downtrend channels this could be the first target.

Good trades to you!