JANUARY 25, 2023 — WEDNESDAY AM
The ES and NQ have broken through yLO and are currently seeing quite a bit of selling pressure, with more downside likely ahead. Short of a strong low and a recovery of yLO, these markets appear poised for more weakness toward wMID below. Crude Oil has developed a narrow 7-day range around the previous year’s close price. An 8-point breakout move could be ahead. Gold remains bullish, and pullbacks remain buying opportunities.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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