January 11, 2021 — MONDAY AM
The ES, NQ, and CL each remain within very clear bullish trends, which will continue to remain bullish until a market structure breakdown occurs. While the market has begun the week with selling pressure, this early-week pullback could offer bulls a buy the dip opportunity heading into the rest of the week. But first, however, these markets need a strong low. Look for further near-term weakness until a strong low develops. Gold reached new lows into 1817 and is now trading below the 200-day moving average, which could begin to provide a buying opportunity soon.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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