APRIL 27, 2021 — TUESDAY AM
The NQ is trading just 20% of average range this morning heading into the RTH Open. The ES is trading just 38% of ADR. These ranges have developed ahead of Wed’s FOMC Statement and Rate Decision. Further range-bound action could be seen ahead of Wed’s statement, but volatility is likely coming due to the Fed’s statement and also due to the 13-day narrow trading ranges that have developed. Crude Oil likely has a bullish trend day today after Monday’s FNL. Gold remains on a path toward 1825 and 1875.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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