August 09, 2019 — FRIDAY AM
The ES and NQ are currently trading within very narrow ranges after experiencing a high-range trend day in the previous session. This type of range behavior is very typical, as the market looks to digest the recent price move. Look for further trading range behavior today, unless price fails to hold above 2915 in the ES and 7650 in the NQ. A break of these levels could open up more of a retracement ahead. Crude Oil remains weak, and any bounce could offer a selling opportunity that retests recent lows near 50.50. Gold is holding below key resistance at 1525 and may see a reversion to the mean ahead. 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