Sellers remained in Control and the 1199 Resistance Level capped the upside in the overnight session. Heading into the day session, we have Initial Support at 1184-1185.25. Holding above that area would bring the previous VPOC at 1190 and the gap fill at 1190.75 into play as targets. Unless we get an Open Drive to the downside, there's a high probability of testing the 1189.75-1190.75 area. Today's Bull/Bear Zone is at 1189-1191. On a break and hold above 1191, we have yesterday's Value Area High and the overnight VPOC at 1195.75. A break-out above 1195.75 would be indicative of Initiative Buying, and we'd have to be cautious on the Short side. On the downside, a break below yesterday's Low of 1180.50 could lead to a quick move down to 1174.50 and 1170-1172. Overall, the expectation is for Responsive Buyers to be more active on tests of Support now and the short-term bias is Bullish above 1184-1185.25.
5-minute Chart with Support/Resistance Zones
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