April 06, 2020 — MONDAY AM
The ES and NQ continue to trade inside the now 9-day developing trading range. Further range action is likely to be seen, but a breakout could trigger a major phase of expansion. Watch the previous month’s close price in both ES and NQ for signs of rejection/acceptance today. Crude Oil has pulled back after last week’s strong finish, which could offer a buying opportunity as deep as 5.20-54.50. Overall, CL remains bullish unless if fails to hold the 54s. Gold remains bullish, but continues to trade within the 1560 to 1700 zone.
Cheers!
— Frank Ochoa
Author, Secrets of a Pivot Boss