December 16, 2020 — TUESDAY AM
The ES and NQ have pushed higher out of the bullish PEMA trigger zone and appear poised for more upside from a swing basis. Bulls continue to defend the rising PEMA trigger zone, until proven otherwise. Crude Oil remains bullish and continues on a path toward 49-50. Any pullback remains a buying opportunity, but continue to watch wHI for signs of rejection. Gold needs to get above 1880 to continue its upward march. Otherwise, this rally could be an opportunity to sell.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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