AUGUST 08, 2023 — TUESDAY AM
The ES, NQ, and YM have given back much, if not all, of Monday’s gains ahead of the pre-market open. The ES and NQ are now testing wLO, which are key levels to watch early in the day. Failure here opens up a potential move into mLO below, so bulls have their hands full. The 4-day narrow range in the NQ could lead to a solid breakout ahead. Crude Oil is beginning to give up 80.50, which could finally lead to another move down within the large trading range.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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