August 24, 2020 — MONDAY AM
The ES has gotten the upside break through the top of the narrow 10-day range, which suggests more upside could be ahead over the next 5-10 sessions, with targets between 3500 and 3545. Failure to hold the breakout point of 3400 could lead to a sharp reversal, however. The NQ is close to reaching our 1000 point target, and Crude Oil remains within it’s 3-week narrow range. Look to avoid the chop in CL until it’s ready to move. Gold remains short term bullish and continues to develop within the newly-formed key range, which gives us great levels and targets to use.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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