PivotBoss Pre-Market Video [March 5, 2021]: Crude Oil Reaches our 65 Target

MARCH 5, 2021 — FRIDAY AM

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The ES, NQ, and YM each developed strong FNL buy signals in the 60min timeframe after the release of the NFP report, which could trigger additional strength throughout the day. While a strong push higher could be seen into the weekend, the market has developed a pattern of lower highs and lower lows lately that the market must shake off if it is to continue higher. Otherwise, any strength could lead to another round of weakness. Crude Oil has finally reached our target of 65s, which we gave during the first week of January. Now that Crude has reached the upper end of the market structure we may see a significant rejection soon, which could return price to CVPOC below. Watch the edge closely. Gold remains bearish and en route to 1660, and any bounce remains a selling opportunity.

Cheers!

Frank Ochoa
Author, Secrets of a Pivot Boss

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