Significance of the OPEN price of the day

[scipio]

An open question to whoever might help

I am particularly interested in understanding the significance of the OPENING price of the day.

I would like understand its significance by observing where the open price is positioned in respect to the previous day bar or candle and ,even better, referred to a larger context; for instance its relation to the price movement over the previous 5/6 day period and resistance or support.

Am I correct in assuming that this price is largely determined by the market makers ?

And if it is so can we guess their intentions?

I would be grateful for opinions and enlightment or indications on where to find books/material covering the subject

 

[Morris]

All depends on the market in question.

The open in the index futures market is the first trade, there are no market makers in the electronic futures markets.