February 12, 2021 — FRIDAY AM
The ES and NQ continue to develop their respective narrow trading ranges, which we’ve quantified as being 30% of average 5-day range. These extremely narrow ranges project 190 points of expansion for the ES, and 700 points of expansion for the NQ, once a breakout occurs. We may see further range-bound action heading into the holiday-extended weekend, however. Crude Oil remains bullish overall, but could see new lows if price cannot find acceptance back above yMid. Gold remains trapped between 1780 and 1880, and a new key range has now developed.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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