February 23, 2021 — TUESDAY AM
The ES has broken back below the previous month’s high, which it has held throughout much of the month. Failure to reclaim this level could open up a return to the Jan 27 FOMC key level at 3777.50. The NQ continues to lead lower, and will likely see further downward price discovery until a strong low develops. Once a strong low develops, we may see a bounce that leads to the development of a new key range. Crude Oil hit 63, and while a day timeframe pullback may be seen, further swing strength should be seen to 65 ahead. Gold continues to hold the 1760 support, and may see short term strength back toward 1848, and perhaps as high as 1880.
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