February 22, 2021 — FRIDAY AM
The ES and NQ have each pulled back in overnight and pre-market trading and are currently holding below the previous week’s low price (wLO). If these markets can reclaim wLO today, we could see a return to wMID and wHI over the course of the week. Otherwise, a failure to reclaim wLO could open up a broader decline ahead. Crude Oil continues to show strength out of the bullish PEMA trigger zone and could be headed to 65 over the course of the next 1-2 weeks. Gold remains within a bearish overall trend, and is contending with a bearish PEMA trigger zone. Any bounce could be seen as a selling opportunity for new lows ahead.
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