June 14, 2019 — FRIDAY AM
The ES and NQ are trading within very narrow 5-day ranges, which suggest the markets are building energy for the next major breakout move. We may see further range development ahead of next week’s Fed Meeting and Fed Interest Rate Decision, which could provide the spark that triggers expansion. Crude Oil remains bearish and cannot find acceptance above the 55 CLVN, nor the previous week’s close of 53.36, which opens the door to more downside ahead, perhaps as low as 40-42. Gold futures continues to rally, and is now inside the zone of major 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