NOVEMBER 18, 2022 — FRIDAY AM
The ES bounced off the key range midpoint of 3920 Thursday, and is attempting to push higher from this level, which opens the door to a move to 4100, and perhaps even 4200 ahead. Failure to hold this new pivot low (3920) will open up a return back toward the lower market structure. Crude Oil has given up the 85 level, and is working lower toward its key range low of 76.25. Look for further weakness to new lows on the year at 75. Gold has developed a very narrow 6-day range, which could fuel the next 100 point move.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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