Monday:
Fairly wide o/n range. A false breakout to the upside and a return all the way back to the o/n-lows. Price chopped around gaining support for another round-trip back to test the o/n-high.
Tuesday:
The o/n-low was within a penny of yesterday's o/n-low. The opening drive breakout tagged the 50% projection of the o/n-range before pulling back and holding the o/n-high as support. Ultimately the 100% projection of the o/n-range was achieved late in the day.
Today's regular trading hours (RTH) had a bullish (relief rally) tone to them. The early morning setup was a bull flag continuation of yesterday's late afternoon action. The ensuing pullback into the 11CST period (holding the o/n-highs as previously illustrated in the chart above) can also be considered the 2c-2d long setup. The previous day's bull flag achieved the 50% projection which lined up closely with the 50% projection of this afternoon's higher low wave (the structure formed between 11-12:30CST).
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