June 05, 2019 — WEDNESDAY AM
The ES and NQ rallied tremendously in the previous session, but does this bounce offer a selling opportunity for bears? Given the recent price action, the answer points to yes, which could lead to another round selling pressure in the near-term to new monthly lows. Crude Oil is coiling within a narrow overnight range ahead of the inventories report. Watch for a breakout from this range soon. Gold futures remains extremely bullish, and appears to be headed to 1350, with a shot at pushing into 1360. However, Gold has not wanted to trade above 1375 in years, so the bullish momentum may come to an end soon. 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