JUNE 27, 2022 — MONDAY AM
The ES and NQ both finished last week on the highs of the week, after finally getting an upside break through the top of narrow multi-day ranges. Watch wHI/wCL for early signs of rejection, which could lead to an early pullback this week. Should a pullback occur, expect bulls to defend for a shot at finishing the week higher into the extended holiday weekend. Crude Oil remains below the 115 market structure level, which suggests more trading between 95 and 115. BTC and ETH continue to build out narrow ranges, which could fuel the next major decline ahead. Fed Chair Powell speaks on Wednesday, and NFP has been moved from Friday, July 1 to the following Friday, July 8.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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