OCTOBER 13, 2021 — WEDNESDAY AM
The ES and NQ continue to remain within short and medium term downtrending structures, which suggests more weakness ahead. Morning strength is an opportunity for bears to defend and rotate lower, until proven otherwise. Crude Oil developed a great intraday key range Tuesday, which gives us key levels and targets to watch in the near term. Gold continues to trend lower overall, but remains within a developing 2-week trading range, which continues to chop around the 1760 key level. Price needs above 1780, or below 1740 to get the next move started.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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