October 29, 2020 — THURSDAY AM
The ES, NQ, CL, and Gold continue to remain extremely weak in overnight and pre-market trading, as each market remains on a downside price discovery phase. The ES and NQ appear headed back to the previous month’s low price, as further weakness will likely be seen unless a significant rejection occurs. Crude Oil is down over 5% ahead of its RTH open, and has broke through the bottom of a significant key range, which points to major downside targets if bulls cannot reclaim 36.13 soon. Gold is trading new lows after taking out its key range low at 1874.2, and more downside could be seen ahead toward 1800 unless responsive bulls can create a significant rejection.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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