JULY 22, 2021 — THURSDAY AM
The ES and NQ have traded within a very narrow range heading into the RTH open, as each market trades just 25% of ADR. While we may see an intraday pullback, bulls are likely to defend weakness for a push higher. Further swing strength is likely ahead for these markets, unless a significant failure occurs. Crude Oil has reached the 70.27 midpoint of the impulse selloff, which gives us a new key range with great key range targets. Gold is barely holding on to 1790 support, which is the key pivot to watch for short term directional conviction.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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