A Gap down and strong selling on Sunday night (8th March) triggered the limit-down CME rules which prevents drops of more than 5%, from the previous day’s low. Futures plunged to 2,819 when the market was closed to lower trading. The contract is not allowed to trade lower than that price for the remainder of the Asian and start of the European session.
It re-opened again just 15 minutes ago for the start of the US session and quickly fell to 2716.
At this price buyers stepped in and the market has pulled back up to the day’s Volume Weighted Average Price (VWAP) at 2812.
Currently the market is testing this level.