JULY 23, 2021 — FRIDAY AM
The ES, NQ, and CL are each trading within very narrow trading ranges ahead of today’s RTH open, with Crude trading as little as 24% of 10day ADR. Given the recent strength, any intraday weakness is likely to offer a buying opportunity for a late-day move higher. Gold continues to hold the 1790 support level, which is a key market structure level. Holding this zone opens up a 1835 retest, with a shot to see 1863.80 down the road.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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