The ES and NQ have extended selling pressure to two days and are showing signs of intraday rejection, which could allow for a buy the dip opportunity. However, a failure to hold above the previous month’s close price in the ES could suggest much more downside ahead. Crude Oil is now trading near 52, and could begin to find rejection below between 50 and 52 soon. Gold has gotten a breakout from the narrow 10-day range, but can it stay above 1570?
Cheers!
— Frank Ochoa
Author, Secrets of a Pivot Boss