October 19 2020 — MONDAY AM
The ES and NQ developed bearish FNH patterns in the previous session after the last-hour sell-off Friday. Is this an early indication of weakness to come? More strength is likely, but a failure to hold 3460 in the ES and 11800 in the NQ could lead to some downside selling pressure. Crude Oil needs above 41.50 to squeeze, else it returns to the sticky 40 level. Gold remains stuck between 1874 and 1926. A breakout of this range will be big when it finally happens.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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