May 06, 2020 — WEDNESDAY AM
NOTE: Thank you very much for joining me for our Monthly Market Outlook webinar, which we hosted FREE in our PivotBoss Echofin Trading Room. To view the recording, log in to our trading room at https://pivotboss.echofin.co and view the PivotBossTV video playlist. You can also visit https://pivotboss.com here: https://pivotboss.com/2020/05/04/pivotboss-monthly-outlook-may-04-2020-talking-shak-tdoc-and-ww/
The ES and NQ are holding at important key levels, including 2882.50 and 9000, which will be key to directional bias later in the day. The markets remain bullish, but a failure to hold above the previous month’s close prices will be an early sign of weakness. Crude Oil is seeing intense selling pressure back below 27, which could trigger more downside price action ahead. Gold is trading within a narrow range that has developed within a larger range…these are the ranges to watch.
Cheers!
— Frank Ochoa
Author, Secrets of a Pivot Boss: http://pivotboss.com/secrets-of-a-pivot-boss/