October 21, 2020 — WEDNESDAY AM
The ES and NQ remain within a short term downtrend, and are still mainly trading within the boundaries of the previous day’s Inside Day relationship. A major breakout could be ahead, and likely to the downside. However, bulls need a strong low in order to turn things around. Above 3460 and 11800 changes the bias. Otherwise, these may be headed to the previous month’s close price. Crude Oil continues to trade near key resistance, and Gold is testing the previous month’s midpoint again.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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