November 11, 2020 — WEDNESDAY AM
The ES, NQ, and Crude Oil have each rallied in pre-market trading, but are now testing zones that could offer rejection soon. The ES is sitting above the previous session’s high price which, in a downtrending market, offers the best opportunity for a bull trap. The NQ is approaching 11800 from below for a key test, and Crude Oil has rallied above last month’s high price, and hasn’t been able to close above 42s in months. A failure to hold this level could offer a return to 40 and 39. Gold needs back above 1860 for a shot back to 1907.10.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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