August 17, 2020 — MONDAY AM
The ES continues to remain within a narrow 6-day trading range, which is building the energy for a push to new all-time highs. Any selling pressure could become a shakeout leg ahead of strength ahead. A breakout from the ES range forecasts about 128.50 points of range. The NQ and Gold have each developed 3-day narrow ranges, with upside bias. Crude Oil has developed a very narrow 6-day range, which forecasts a breakout move of about 4 points ahead. Here are the levels to watch for the day and week ahead.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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