JULY 20, 2021 — TUESDAY AM
The ES, NQ, and CL have each traded within very narrow ranges ahead of the RTH open, with the NQ trading as little as 34% of ADR. Given the narrow pre-market ranges, it may be an indication of further weakness to come, as rejections haven not be seen at or near yCL/yLO. Further weakness could be seen to lower FOMC key levels until rejection occurs. Gold has developed a strong higher low and remains on a path to 1863.80.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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