June 13, 2019 — THURSDAY AM
The ES and NQ traded within very narrow ranges in the previous session, and continue to develop within narrow 4-day ranges for the week so far, which is likely building energy for the next key move. Again, a failure to find or establish acceptance above 2900 in the ES and 7600 in the NQ would suggest more weakness ahead. Crude Oil surged in overnight trading due to conflict with oil tankers overseas. This rejection of new lows opens up a potential retest of prices at the 55 CLVN. While Gold is bouncing in the near term, another decline is likely ahead if it cannot push through 1350 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