June 22, 2020 — MONDAY AM
The ES and NQ are testing important midpoints of Friday’s bearish rejection day, which suggests bears are still trying to defend recent highs at 3150 and 10,100, respectively. The midpoints of these rejection days are 3100.75 and 10014.25, which are the key levels to watch today. Crude Oil is coiling within a narrow pre-market range, and could be due for expansion soon. Watch 39.30 down, and 40.20 up. Gold is testing the upper boundary of the 3-month trading range at 1775, which has been an opportunity to sell it back to 1670 lately. Watch 1775 closely for rejection today to suggest another rotation down.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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