Overnight the downward action continued on good of about 330k contracts. VPOC established below yesterday and Tuesday’s.
I am expecting price to come back and test the overnight lows before going back up to test yesterday’s close or . There are a couple of high impact scheduled events which may disrupt the action. I would not trade until after the Fed speech and PPI figures have been release.
Depending on the figures, price could come down to as low as 2842-52 area before going up.