October 08, 2020 — THURSDAY AM
The ES is testing prices above the 3400 level again after its first daily close above the level since the beginning of September. Can price remain above yHI? If not, we may see a return to yMid at 3374.50. The NQ is currently approaching key resistance at 11600, and continues to build energy within a developing 9-day trading range, which is very narrow. A breakout from this range could trigger a move of 800-1000 points soon. Crude Oil is testing wHI, which is a key level to watch for further strength, or rejection. Gold is trading within a narrow 8-day trading range, which could spark the next 112 point move ahead.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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