MAY 18, 2022 — WEDNESDAY AM
The ES and NQ are both seeing an early Fade After Trend Day move, with each returning to yMID for a big test early in the day. Can bulls keep yMID bid for a shot at a checkmark trend day up? Or will bears push prices through yMID for a shot at a bearish outside day down? All eyes will be on yMID early in the session for today’s directional cues. Crude Oil has backed off the 115-116 zone, and could return to the 107.85 FOMC key level below, along with the center of the range at 105. BTC and ETH are trading within extremely narrow inside days ranges, and have developed narrow ranges over the last 3-4 days, which means energy is building up for a big move ahead.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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