October 16, 2020 — FRIDAY AM
The ES and NQ have bounced off the PEMA trigger zone after yesterday’s reversal from lows, which is what we were expecting. If this buy-the-dip opportunity holds up, we may see a move to the previous month’s highs. Crude Oil has developed a very strong FNL rejection, which may be the beginning of a potential breakout ahead. If so, it could trigger a significant rally for Crude Oil. Price needs above 41.50. Gold remains range-bound.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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