30/10/25 First Pullback Would Likely Only Be Minor

Yesterday's candlestick (Wednesday, October 29) was another bear bar closing near its low with a small tail below.
In our last report, we said traders would observe whether the bears could create more follow-through selling, or if the bulls could create a pullback instead.
The bears continue to create follow-through selling, closing below the September 23 low.
The bulls see the current move as a deep pullback.
They want the September 23 low areas to act as support, forming a large double bottom bull flag (September 23 and October 29 lows).
They want a failed breakout below the September 23 low.
They must create strong consecutive bull bars to show they are back in control.
The bears want strong follow-through selling below the 20-day EMA, with a break below the September low sometime this week. So far, this is the case.
The current move is in the form of a 7-bar bear microchannel, indicating strong bears and persistent selling.
The first pullback would likely be minor, followed by at least a small sideways to down leg to retest the current low extreme (currently the Oct 29 low).
The bears must create sustained follow-through selling trading below the September 23 low to increase the odds of a reversal.
Production: SPPOMA's first 25 days increased by +2.78%.
Refineries' appetite to buy is there, slightly less enthusiastic.
Export: Oct down 0.36% for the first 25 days as per ITS.
For today (Thursday, Oct 29), traders will see if the bulls can create a decent minor pullback attempt.
Or will any pullback be weak (long tails below candlestick, closing below its lower half, lacking in follow-through buying), and the bears continue to get follow-through selling?
For now, odds slightly favor sellers above the first minor pullback.
Andrew