NOVEMBER 11, 2021 — THURSDAY AM
The ES and NQ have traded modestly higher in overnight and pre-market trading. Both are currently holding above yMID. Given the recent bearish trend (on a 5-day basis), bears may look to sell morning strength for a shot at new lows ahead. Failure to hold yMID will open up the downside in the scenario. Crude Oil may see an intraday bounce, but swing traders must wait for an edge. Gold has seen a major breakout through 1840/1850, which could open up 1920 and 1960 ahead.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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