July 30, 2020 — THURSDAY AM
We are post-FOMC Statement and rate decision and have our new FOMC Key Levels. As of right now, it appears the ES and NQ had taken the level bid yesterday, and any defense of this level today could suggest a continuation to new highs on a swing basis. The ES and NQ need to reclaim today’s midpoint in order for bulls to take the reigns. Crude Oil may be headed to 41.11, and Gold remains very bullish, but a pullback may be ahead.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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