JULY 06, 2022 — WEDNESDAY AM
The ES, NQ, and CL are each trading within very narrow ranges after highly active sessions yesterday. The ES and NQ remains within a strong downtrend, but is seeing short term strength. This wave of strength could push price back to last week’s highs, but price needs above wMID first. Crude Oil had a 14 point day on Tuesday, and is currently seeing a narrow range day at the moment. While today could offer a modest strength and a range-bound session, tomorrow could offer another big move lower in the 93 to 95 zone. BTC and ETH continue to build out within their respective ranges, and could see another major move lower down the road, but we are running out of runway to the downside.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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