November 19, 2020 — THURSDAY AM
The ES and NQ each hit new lows within the current 3-day downtrend, but are now trading back above yesterday’s lows. These are potential Failed New Lows (FNLs) developing, which could boost price higher today if they can continue to remain above yLO. Watch 3580 as potential overhead resistance in the ES. Crude Oil is still battling 42, and Gold bulls are still defending 1860…but will their downside stops be triggered?
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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