AUGUST 14, 2023 — MONDAY AM
The ES and NQ continue to exhibit downtrending price action, as the tech-heavy index reached mLO, and the ES remains on a path to the same. Bears will be looking to defend into strength for another round of weakness ahead. Watch wMID in the ES and NQ, as a push back above this level could open up a brief rally back toward wHI. The YM has developed a multi-week narrow range, which forecasts a 1500 to 2000 point breakout move ahead. Crude Oil continues to battle the 83.52 edge, and Gold remains on a path toward mLO.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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