AUGUST 24, 2022 — WEDNESDAY AM
The ES and NQ are both trading within narrow ranges ahead of the RTH Open, as 2-day ranges develop. These two markets are trending down in the near term, and a bearish FNH could trigger additional weakness ahead, with 4080 as the next key level for the ES. Crude Oil is developing a bearish FNH, as this market is currently rejecting prices above 95 and above yHI, which could lead to a reversal back down on a swing basis. BTC and ETH are holding within narrow 3-day ranges, which could trigger a breakout move soon.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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