MARCH 22, 2023 — WEDNESDAY AM
The ES, NQ, and YM have all developed narrow ranges above wHI heading into this afternoon’s FOMC Statement and Rate Decision. A failure to hold above wHI opens up wCL/wMID below. Gold has seen a strong rejection of prices above 2000, which could open up a return to 1830 below. Crude Oil needs back above 70 to open up a bounce back toward 80.50. Failure to get back above 70 opens up new lows below.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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