June 26, 2020 — FRIDAY AM
The ES and NQ bulls have developed a pre-market higher low after yesterday’s rounded bottom led to afternoon strength. This could lead to more strength ahead today, but watch those morning lows, as a failure through those levels could trigger major selling pressure ahead – 3050 ES, 10000 NQ. Crude Oil may be offering a hint of what’s to come, as rejection at the previous week’s close price of 39.50 has triggered a return to 38 for a key retest. Gold has pulled back from recent highs, but is this the first pullback ahead of a major breakout to come? Watch 1750-60 for signs of support, as bulls look to push through 1800.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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