April 16, 2020 — THURSDAY AM
The ES and NQ are holding within narrow ranges ahead of the next potential breakout move. The ES remains within a 5-day range, and the NQ is trading within a narrow 2-range. A downside break could lead to short term selling pressure, but could be a swing buy opportunity. Crude Oil continues to see absorption at the bottom of the key range. A break back above 20.52 will open up 4 handles of upside. A pullback to 1700 in Gold may offer a solid buying opportunity.
Cheers!
— Frank Ochoa
Author, Secrets of a Pivot Boss