AUGUST 26, 2022 — FRIDAY AM
The ES and NQ could be headed back to wCL above if they can find strong lows this morning. However, with Fed Chair Powell on deck, in addition to a slew of economic data, we could see headline risk that leads to increased volatility. Crude Oil may be headed much lower today. Bears are defending 94s for a shot at a 3.50 to 4.00 move lower, with targets between 90 and 90.50. BTC and ETH are developing very narrow ranges over the recent five days, which could lead to major expansion soon.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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