November 17, 2020 — TUESDAY AM
The ES continues to hold above 3600 at the moment, but a developing intraday rounded top may lead to short term weakness ahead, especially if price fails to hold 3595. Still, any pullback could be a buying opportunity as the ES remains strong within the overall bullish trend. The NQ continues to test the 12k level, which remains the pivot to watch. Crude Oil continues to be rejected at 42 and may be headed to 39.30 below. Gold is developing a great buy opportunity, as bulls want to keep 1878 bid for a shot at 1960-1970 above. Failure to hold 1878 on a closing basis will break this idea.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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