November 13, 2020 — FRIDAY AM
The ES continues to be range-bound after Monday’s huge rejection day. The developing 4-day range is very narrow according to our ADR reading, and suggests a breakout move of about 260 points could be ahead. Continue to watch 3500 and 3580 for potential expansion. Keep an eye on 12k for the NQ. Crude Oil continues to push lower after rejecting 43s, with targets at 40, 39, and 38.35. Gold is breaking its 3-day narrow range to the upside, and could be headed much higher if it can stay above 1880.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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