February 11, 2021 — THURSDAY AM
The ES, NQ, and CL have developed narrow multiple-day ranges at highs after recent strength, with the ES showing doji-like candles within it’s range, which can be a sign of caution ahead. These ranges may mean the market is losing some momentum at these levels, and may need a broader pullback before it can resume it’s uptrending nature. Still, any pullback is likely to be a buying opportunity until proven otherwise. Gold is holding within a developing narrow 3-day range, which could lead to further strength toward 1880 soon. A bullish FNL may provide a catalyst for strength for Gold.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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