April 08, 2020 — WEDNESDAY AM
The ES and NQ left behind a solid bearish rejection tail in the previous session in the daily timeframe…will this lead to a pullback? The key level to watch will be the midpoint of Tuesday’s range. If price cannot reestablish acceptance back above this level, we could see a rotation back within the previous trading range…or perhaps lower. Crude Oil appears poised for another leg lower, and watch the top of the key range in Gold.
Cheers!
— Frank Ochoa
Author, Secrets of a Pivot Boss