June 10, 2019 — THURSDAY AM
The ES and NQ have bounced tremendously from recent lows, but are now approaching key overhead resistance. The ES is now in the zone between 2880 and 2900, which is the zone that was defended ahead of the recent sell-off. Failure to reestablish acceptance back above 2900 could offer another selling opportunity for bears, with a shot at seeing a return to 2700, or lower. Crude Oil developed a compression signal after last week’s trading action, which means this week could be a big week for Crude. Keep an eye on 52.50, as this level could open the door to more selling pressure is breached, or a major bounce if held. Gold is showing some initial reaction to the 1350 level after reaching it Friday. Gold still faces major 5-year resistance between 1360 and 1375. 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