November 12, 2020 — THURSDAY AM
The ES remains within a narrow 3-day range, as does Gold. Gold is developing a 60min buy signal below wLO, which could trigger a rally soon. This rally could lead price back to 1907.10, but also to new highs into 1960s. Gold needs above 1874, otherwise, a downside break from its 3-day range could open up 1800 below. Crude Oil developed a strong rejection day Wednesday, and could be headed to 38.35 from 42. Watch 12k in the NQ for signs of rejection/acceptance.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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