MARCH 15, 2022 — TUESDAY AM
The ES and NQ are both seeing early rejections of yLO and wLO, which opens the door to a return to yMID. However, given the overall downtrending nature of this market, morning strength likely offers another opportunity for bears to sell ahead of afternoon and late-day weakness. Crude Oil is now back at the 96 market structure support, and could trade between 96 and 106 before its next move. Below 96 opens up 86. Bitcoin has developed a narrow 3-day range, and ETH is working on a 7-day narrow range. These ranges are building energy for the next short term move.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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