April 30, 2020 — THURSDAY AM
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The ES and NQ have broken through the top of the their respective narrow trading ranges, which suggests we could see another 1 to 2 weeks of strength ahead, as long as prices can remain above the breakout point. Failure to hold the previous session’s midpoints will suggest a deeper pullback. Crude Oil is bouncing, but is approaching overhead resistance between 18-19, which could lead to another round of selling pressure. Gold needs to hold above 1704, or a deeper pullback could be seen.
Cheers!
— Frank Ochoa
Author, Secrets of a Pivot Boss: http://pivotboss.com/secrets-of-a-pivot-boss/