NOVEMBER 16, 2021 — TUESDAY AM
The ES and NQ are trading within extremely narrow ranges today, and are currently trading within developing inside days. Look for a rejection of yLO for a shot at strength later today. Failure to hold yLO for long could suggest additional weakness, however. Crude Oil is back to chopping around the 81.50 level and the 80.82 FOMC key level. Look to avoid the chop, and wait to fade an edge – above 85, and below 78. Gold remains bullish. Any pullback could provide a continuation toward 1920 and beyond, but price needs to stay above 1840/50.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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