May 23, 2019 — THURSDAY AM
The ES and NQ are working lower this morning, which is essentially the initial downside break from the narror 5-day compression. This could lead to quite a bit more downside price action ahead…unless a rejection of the previous pivot low occurs. Crude Oil rejected the 62.70 intraday key level yesterday and dropped into 61. Now price is approaching 60, which is a very important key level to watch for a break or bounce. Gold continues to honor the 1270 level, and is now coiling within a 3-day range, which could offer a big breakout soon…perhaps today. Here are the levels we’ll focus on during the morning session of the PivotBoss Trading Room.
This video also includes: E-Mini S&P 500, E-Mini Nasdaq 100, Crude Oil, and Gold.
Cheers!
— Frank Ochoa
Author, Secrets of a Pivot Boss