January 05, 2021 — TUESDAY AM
NOTE: I will be hosting our PivotBoss Monthly Outlook for January 2021 on Wed, Jan 6 at 4pm CT. We will analyze futures, stocks, and crypto, and will offer prospects for the first quarter of the year. Please use the following link to join this free webinar: https://zoom.us/j/98170999086
The ES and NQ are both trading at, or below, wLO, which are the key levels to watch early in the session. Failure to hold 3675 and 12650 in the ES and NQ, respectively, could lead to another big round of selling pressure ahead, with mLO as the next downside target. Watch these levels closely. Crude Oil developing a very bearish outside day in the previous session and is now at the retest entry point of this pattern, which offers the optimum entry point for swing bears. Gold remains en route to 1960-1980, but watch for signs of rejection at 1980.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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