July 19, 2019 — FRIDAY AM
The ES and NQ have bounced out of their respective PEMA trigger zones, which suggests more upside out of these markets over the next 5 to 7 sessions. However, we are closely watching the 2960 and 7800 levels, respectively, for signs of a failure at some point. Crude Oil bounced off the 55 CLVN in the previous session, but didn’t show a strong rejection, which means more of a test may be seen in this zone ahead. If Crude can hold the 55s, we could see another near term bounce to 60-62 soon. Gold remains quite bullish, but is showing initial signs of rejection at the top end of the range, which means near-term selling pressure may be seen within the overall bullish move. 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