July 31, 2019 — WEDNESDAY AM
The ES, NQ, CL, and GC are all trading quietly ahead of this afternoon’s FOMC Meeting and Fed Interest Rate Decision, which pre-market ranges between 20 and 30% of average range. The markets are likely to continue to trade mostly in the range ahead of this afternoon’s announcement, but major market movement could begin to be seen as early as Thursday morning, as expansion could be near. Crude Oil has broken out of its 10-day narrow range to the upside, which could lead to a rally back toward 61-62. 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