September 30, 2020 — WEDNESDAY AM
The ES and NQ are currently developing intraday rounded bottoms as they attempt to reject yLO. Rejections of yLO could lead to a nice intraday rally that could ultimately become a bullish outside day. Continue to watch yLO closely. Crude Oil is range-bound after yday’s selling pressure – watch 39.30 up, and 38.60 down for early directional conviction. Gold remains bullish, and any pullback into the 1870s could provide a buying opportunity for a move to 1957.70 and 1981.70.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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