June 17, 2019 — MONDAY AM
The ES, NQ, and CL are all trading within extremely narrow price ranges ahead of Wednesday’s FOMC Statement and Interest Rate Decision. Each of these markets continue to trade below major resistance levels, with a shot a seeing more downside expansion ahead. The ES is finding resistance at 2900, the NQ at 7600, and Crude Oil below 55. Any failure to reestablish acceptance back above these zones suggests more downside price discovery ahead. Gold remains near the top end of its trading range, but remains within a bullish trend, with bulls defending the 8-period average. 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