December 22, 2020 — TUESDAY AM
The ES and NQ reversed sharply from Monday’s pre-market lows, and remain within the overall bullish uptrending structure. As such, more upside is likely until proven otherwise. The levels that would prove otherwise are Monday’s lows and the key range highs. If violated early in 2021, they could provide a broader pullback ahead. Continue to watch 3587 and 12465. Crude Oil is holding the 46 level, which suggests more upside ahead. Gold continues to hold above the key range low, and still appears poised for a move to 1960-1980, especially if it can continue to hold 1860.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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