September 17, 2020 — THURSDAY AM
The ES and NQ are both lower this morning post-FOMC statement release, which the market clearly took as an opportunity to sell. The daily ranges are still rather modest for a trend day breakout, so much more range could still be seen ahead, in either direction. Perhaps a test into wLO may be ahead, which could offer an opportunity for rejection. Crude Oil remains on a path to 41s, and Gold remains range-bound until it’s time for the breakout.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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