August 20, 2020 — THURSDAY AM
The ES is currently trading inside the PEMA trigger zone after yesterday’s FOMC Meeting Mins sparked selling pressure in the market. The NQ is currently holding the 8PEMA, with both developing fairly strong lows in overnight trading. But will these lows be strong enough to hold tomorrow, or will we see a deeper pullback? Crude Oil is developing early signs of rejection at 2-day lows and could try for an upside break. Gold needs to hold 1928 or we may see a retest of the recent low soon.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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