December 09, 2020 — WEDNESDAY AM
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The ES and NQ are trading within very narrow pre-market ranges, as the ES is registering just 25% of ADR, while the NQ is currently at 37%. These ranges have developed at yHI, which could lead to a move lower this morning toward yMid. Still, any pullback remains a buying opportunity until proven otherwise. Crude Oil has developed a narrow 10-day trading range, which projects about 6 points of potential expansion down the road. After reaching our 100-point target in Gold, more upside could be seen if price can push through 1880. The development of a FNL today could do the trick.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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