AUGUST 27, 2021 — FRIDAY AM
The ES and NQ remain within narrow 4-day ranges, as each continues to trade near yMID. Above yMID opens up yHI, but stays mainly within the range. Eventually, we’ll see expansion. If a shakeout happens to the downside first, it could offer a great buy-the-dip opportunity. Crude Oil is approaching a major decision point in the chart. It remains on a short term push higher toward our 70.27 target, however, this price also intersects with the top of a falling channel. Huge selling pressure could be seen ahead should a rejection of this zone be seen soon. Gold remains within the 1760 to 1840 market structure.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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