JUNE 22, 2022 — WEDNESDAY AM
The ES and NQ have taken back much of the previous session’s gains, which could send stocks and ETFs gapping down this morning. A failure to reestablish acceptance above yMID could trigger additional selling pressure back toward yLO, especially after failing to hold wMID. Crude Oil has sold off over 6% and over 7 points from yesterday’s close. This meltdown could continue pushing price toward previous market structure support at 95s over the course of the next several days. BTC and ETH are developing narrow ranges at lows, which could trigger additional selling pressure ahead.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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