MARCH 24, 2021 — THURSDAY AM
The ES and YM are trading within narrow ranges that have formed inside the previous session’s range, as the market awaits Day 2 of Fed Chair Powell’s testimony, which could lead to more choppy price action today. Crude Oil sold off heavily in the previous session and is now seeing a Fade After Trend Day move this morning, which could lead to more weakness ahead, especially if it can’t get back above 60. A narrow 8-day trading range has developed in Gold, which could trigger the next 80-100 point move ahead, and likely to the downside.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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