NOVEMBER 16, 2021 — TUESDAY AM
The ES and NQ are trading within extremely narrow trading ranges ahead of the RTH open, as the ES is trading just 12.50 points of range, and the NQ is trading at 29% of ADR. While these markets continue to have a bullish bias, look to avoid the chop of this low volatility market. Crude Oil is approaching 78s, which is the beginning of a major CLVN in the chart. Bulls will look to fade prices below 78 for a shot at returning price to 81.50. Gold developed a bearish outside day yday, can bears defend yMID at 1865?
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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