January 27, 2021 — WEDNESDAY AM
The ES and NQ have both traded lower heading into the RTH open, but remain within very bullish trending structures, which suggests buying the dips is still the way to go. However, a major market structure violation would change this scenario. Breaking below 3750 in the ES and 13000 in the NQ would lead to broader selling pressure ahead. We get another FOMC key level today, as the Fed statement and rate decision is on deck. Crude Oil remains within a very narrow trading range, which is building energy for a major breakout soon. Gold bulls are still trying, but need above 1874 soon, otherwise, a flush could be coming below 1840.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
PIVOTBOSS LINKS:
Trading Room: https://pivotboss.echofin.com
PivotBoss: https://pivotboss.com/
PivotBoss Masters: https://pivotbossmasters.com/
Merchandise: https://pivotboss.com/merchandise
FOLLOW ME HERE:
YouTube: https://youtube.com/pivotbosstv
Twitter: https://twitter.com/pivotboss