September 15, 2020 — TUESDAY AM
The ES and NQ have each pushed above the previous session’s high prices and continue to hold above last week’s midpoints, which continues to suggest more upside toward last week’s high prices. Failure to stay above yHI could lead to early weakness. Overall, the markets remain range-bound ahead of Wed’s FOMC Statement and Rate Decision. Crude Oil remains within a 5-day compression and is building energy for a breakout move soon. Gold has approached the upper end of the narrow range, and could remain range-bound until expansion occurs.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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