AUGUST 07, 2023 — MONDAY AM
Friday’s late-day sell-off led to the development of bearish outside days in the ES, YM, and a FNH in the NQ. These are highly bearish patterns, but if bulls can close the day above yMID it would lead to a push back toward wHI above. Crude Oil is inching closer to major overhead resistance at 83.52, which could lead to a rejection ahead. Gold rejected 1960 and could return to 2000 and 2040 above.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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