OCTOBER 15, 2021 — FRIDAY AM
The ES and NQ closed Thursday’s trading with big gains, and could be mostly range-bound today, with an upward bias. Yesterday’s rally also led to a close beyond the prior pivot high, which bodes well for bulls ahead. However, overhead resistance looms at 4475 and 15k, respectively. Crude Oil remains on a path to the 100% key range target of 86.03. The next PEMA pullback could offer a continuation to this target next week. Gold has failed to hold above the 1780 breakout level, and is again showing major weakness after strength, which could lead to a retest of 1720 ahead.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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