AUGUST 24, 2021 — TUESDAY AM
The ES and NQ are both trading below yHI after seeing a strong rejection at the London open. This rejection could trigger a full-on fade after trend day scenario that leads price back to yMID. Overall, the trend remains up, so any pullback to yMID could provide a buy-the-dip opportunity for a checkmark trend day up. Crude Oil had an impressive 5% day in the previous session, and could see more strength ahead if it can stay above two key levels – 65 and 66. Gold remains bullish and has now gotten the breakout from the narrow 5-day range, which points to more upside to 1835-40.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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