July 30, 2019 — TUESDAY AM
The ES and NQ are pulling back from recent highs this morning heading into RTH, and could see more near-term weakness within the month-long trading range ahead of Wednesday’s FOMC Meeting and Fed Interest Rate Decision. Crude Oil has now developed a narrow 10-day trading range, which could fuel the next 7-handle breakout move once expansion occurs. Watch this range closely. Gold remains bullish and is now holding above the near-term 1430 key level, which had been resistance all of last week. 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