August 19, 2019 — MONDAY AM
The ES and NQ have pushed higher in pre-market and overnight trading, but are approaching key support levels from below, which have now become resistance. While more near-term upside could be seen ahead, we may begin to see another rejection that leads to selling pressure ahead, especially if these markets cannot reestablish acceptance back above 2960 and 7800. Crude Oil seems to be building energy for another move to come, which may be to the downside. Failure to hold 50.50 could open up a significant test of key support at 42.50. Gold has pulled back to the bullish PEMA trigger zone, which could provide another buying opportunity this 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