September 08, 2020 — TUESDAY AM
The ES and NQ remain weak this morning after developing a strong top a few days ago. Since each market remains below their respective previous month’s midpoint, we’ll likely see a move to the previous month’s lows if rejection doesn’t occur soon. Crude Oil is searching for a low, and a major CLVN is coming into view at 35, which could provide a bounce opportunity ahead. Gold has nearly reached our 1910 target after developing the 60min H&S a few days back. Look for Gold to continue to trade within 1900 to 2000 until it’s ready for expansion from the key range. A bear trap below the key range low could offer a major long term opportunity ahead.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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