MAY 08, 2023 — MONDAY AM
The ES, NQ, and YM are trading within super narrow ranges ahead of the RTH Open, with inflation data on deck for Wednesday’s market. we may see early range-bound action this week, as the market awaits CPI. The ES and YM are trading at the precise center of their respective expanding ranges, which means more chop could be ahead. Crude Oil continues to rally, with upside targets at 76 and 80.50 ahead. Gold may need a retest of 1980 below.
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